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you are given the following information for Crane Company for the month ended November 30,2024 Date Description Units Unit Cost Nov.1 Beginning inventory 63 $48
you are given the following information for Crane Company for the month ended November 30,2024
Date | Description | Units | Unit Cost |
Nov.1 | Beginning inventory | 63 | $48 |
9 | Purchase | 110 | 45 |
15 | Sale | (120) | |
22 | Purchase | 155 | 42 |
29 | Sale | (160) | |
30 | Purchase | 49 | 41 |
Crane 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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