During 2021, a company sells 260 units of inventory for $88 each. The company has...
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During 2021, a company sells 260 units of inventory for $88 each. The company has the following inventory purchase transactions for 2021 Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase Number of Units 67 167 183 417 Unit Cost Total cost $60 $ 4,556 69 11,523 71 12,993 $29,072 Calculate ending Inventory and cost of goods sold for 2021 assuming the company uses FIFO. Ending inventory Cost of goods sold
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