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Calculate Carla cost of goods sold for January

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Reference no: EM133066311

Question - Periodic Inventory-FIFO - Carla Company uses the perpetual inventory system. The following information is available for January of the current year when Carla sold 1,600 units of inventory on January 14.

 

Units

Cost/Unit

Total Cost

Inventory, Jan. 1

1,500

$0.25

$375

Purchases, Jan. 13

1,100

0.27

297

 

2,600

 

$672

Using the FIFO method, calculate Carla's cost of goods sold for January and its January 31 inventory.

Reference no: EM133066311

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