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You are given the following information for Blossom Company for the month ended November 30, 2021: Date Description Units Unit Price Nov. 1 Beginning inventory
You are given the following information for Blossom Company for the month ended November 30, 2021:
Date | Description | Units | Unit Price | ||||||
Nov. 1 | Beginning inventory | 60 | $49 | ||||||
9 | Purchase | 100 | 46 | ||||||
15 | Sale | (125) | |||||||
22 | Purchase | 145 | 43 | ||||||
29 | Sale | (150) | |||||||
30 | Purchase | 41 | 42 |
Blossom Company uses a perpetual inventory system. All sales and purchases are on account.
Calculate the cost of goods sold and the ending inventory using FIFO.
Cost of goods sold | $ | |
Ending inventory | $ |
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