On May 1, Crane Company had 430 units of inventory on hand, at a cost of...

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On May 1, Crane Company had 430 units of inventory on hand, at a cost of $4.00 each. The company uses a perpetual inventory system. All purchases and sales are on account. A record of inventory transactions for the month of May for the company is as follows: Purchases Sales May 4 1,300 $4.20 May 3 260 $7.00 14 780 $4.50 16 1,100 @ $7.00 29 400 $4.82 18 370 @ $7.50 (a) Calculate the cost of goods sold and ending inventory using FIFO. Cost of goods sold Ending inventory $ eTextbook and Media Save for Later Question Part Score (b) FIFO Attempts: 0 of 2 used Submit Answer The parts of this question must be completed in order. This part will be available when you complete the part above. Question Part Score (c) The parts of this question must be completed in order. This part will be available when you complete the part above. Question Part Score --16 --/10 --/4 On May 1, Crane Company had 430 units of inventory on hand, at a cost of $4.00 each. The company uses a perpetual inventory system. All purchases and sales are on account. A record of inventory transactions for the month of May for the company is as follows: Purchases Sales May 4 1,300 $4.20 May 3 260 $7.00 14 780 $4.50 16 1,100 @ $7.00 29 400 $4.82 18 370 @ $7.50 (a) Calculate the cost of goods sold and ending inventory using FIFO. Cost of goods sold Ending inventory $ eTextbook and Media Save for Later Question Part Score (b) FIFO Attempts: 0 of 2 used Submit Answer The parts of this question must be completed in order. This part will be available when you complete the part above. Question Part Score (c) The parts of this question must be completed in order. This part will be available when you complete the part above. Question Part Score --16 --/10 --/4