Calculate ending inventory and cost of goods sold

Reference no: EM131884833

Question: During 2015, a company sells 320 units of inventory for $92 each. The company has the following inventory purchase transactions for 2015:

Ending Inventory=

Costs of goods sold=

Calculate ending inventory and cost of goods sold for 2015 assuming the company uses FIFO with a periodic inventory system

Date	Transaction	Number of Units	Unit Cost	Total Cost
Jan. 1	Beginning inventory	65	$69	$4,485
May 5	Purchase	160	70	11,200
Nov. 3	Purchase	184	72	13,248
		409		$28,933

Reference no: EM131884833

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