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Your response must be included in the box below. No exceptions. Ascaria Ltd. which uses a perpetual inventory system, recorded the following inventory transactions
Your response must be included in the box below. No exceptions. Ascaria Ltd. which uses a perpetual inventory system, recorded the following inventory transactions for this month of May. Date Beginning 1-May inventory 5-May Purchase 10-May Purchase 21-May Sale 25-May Purchase Units Cost/price 30 $10 150 75 200 30 =253 11 12 15. 13 Determine the cost of goods sold and ending inventory at May 31st using: a) Using FIFO b) average cost Round your calculations to two decimal places for average cost. Your response must be included in the box below. No exceptions.
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