During 2018, a company sells 330 units of inventory for $88 each. The company has...
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During 2018, a company sells 330 units of inventory for $88 each. The company has the following inventory purchase transactions for 2018: Date Transaction Number of Units 65 Unit Cost $64 Jan. 1. Beginning inventory May 5 Purchase Nov. 3 Purchase Total Cost $ 4,160 10,985 12,730 65 169 190 67 424 $27,875 Calculate ending inventory and cost of goods sold for 2018 assuming the company uses FIFO with a periodic inventory system. Ending inventory Cost of goods sold
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