Calculate the cost of ending inventory

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Question - West Company opened a new store on January 1, 2020. During 2020, the following purchases and sales of inventory were made:

Jan 5 Purchase 10 units @$100

Jun 11 Purchase 10 units @$120

Oct 18 Purchase 15 units @150

Dec 20 Purchase 20 units @160

Jun 19 Sales 15 units @$200 and

Dec 22 Sales 19 units @$210

Physical count of 20 units on hand on December 31, 2020. Calculate the cost of ending inventory, cost of goods sold (COGS) and gross profit using FIFO periodic.

Reference no: EM133069271

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