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Make a computer the ending inventory to be reported

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G.C. Murphy's inventories are determined using FIFO. G.C. Murphy's provided the following information for the first quarter of 2016:

Beginning inventory, January 1, 201660 units @ $42.00

(1) Purchase40 units @ $37.50

(2) Purchase95 units @ $44.00

(3) Purchase30 units @ $43.00Ending inventory, March 31, 201645 units

Question a. Compute the company's cost of goods sold for the first quarter.

Question b. Computer the ending inventory to be reported on G.C. Murphy's balance sheet at March 31, 2016.

Reference no: EM132636110

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