The following inventory transactions apply to Green Company for Year 2:

The beginning inventory consisted of 180 units at $48 per unit. All transactions are cash transactions.

Required
a. Record these transactions in a financial statements model, assuming Green uses the FIFO cost flow assumption and keeps perpetual records.
b. Compute cost of goods sold for Year 2.

Transcribed Image Text:

Purchased Sold Purchased 260 units @ $50 130 units @ $85 390 units @ $56 Jan. 1 Apг. 1 Aug. 1 Dec. 1 490 units @ $96 Sold