What is the cost of goods sold for sale

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Question - Redbird Company uses a perpetual FIFO method.

Dec.1 Beginning Inventory, 70 units @ $14 = $980 inventory system. It sells its product to customers for $40 per unit. Below is information regarding inventory transactions for December. The company uses the

Dec. 9 Purchase, 130 units @ $16 = $480

Dec. 17 Sale 1, 25 units

Dec. 22 Purchase 2, 15 units @ $18 = $270

Dec. 27 Sale 2, 40 units

Using the FIFO inventory method, what is the Cost of Goods Sold for Sale 1?

Using the FIFO inventory method, what is the Cost of Goods Sold for Sale 2?

Reference no: EM132923663

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