Cost of goods sold using the fifo periodic inventory method

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Reference no: EM13918615

On December 1, Marzion Electronics Ltd. has three DVD players left in stock. All are identical, all are priced to sell at $169. One of the three DVD players left in stock, with serial #1012, was purchased on June 1 at a cost of $105. Another, with serial #1045, was purchased on November 1 for $92. The last player, serial #1056, was purchased on November 30 for $83.

Calculate the cost of goods sold using the FIFO periodic inventory method assuming that two of the three players were sold by the end of December, Marzion Electronics' year-end.

The cost of goods sold: $______

Reference no: EM13918615

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