Question: Consider the following inventory' information: Required: Using the first-in, first-out (FIFO) method, compute the amount of cost of goods sold in January and the cost

Consider the following inventory' information:

Required:
Using the first-in, first-out (FIFO) method, compute the amount of cost of goods sold in January and the cost of inventory on January 31.

Cust per unit unis 300 200 400 (700) 200 Beginning inventory, January 1 Purchase, January 7 Purchase, January 22 Units sold in January Ending inventory, January 31 $200 S210 $205

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