During 2021, a company sells 280 units of inventory for $91 each. The company has...
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Accounting
During 2021, a company sells 280 units of inventory for $91 each. The company has the following inventory purchase transactions for 2021: Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 65 $ 64 $ 4,160 May 5 Purchase 166 65 10,790 Nov. 3 Purchase 181 67 12,127 412 $ 27,077 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO.
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