$1,190 Required information Less ending inventory priced using FIFO 10 units from August 28 purchase at $119 each .............. 2 units from August 17 purchase at $115 each ............. Ending inventory .............. Cost of goods sold 1,420 Activity Units Acquired at Cost Units Sold at Retail Unit Inventory 10 units @ $ 91 15 units $106 $ 910 $ 1.590 20 unts $130 Aug 1 Aug 3 Aug 14 Aug. 17 Aug. 28 Aug. 30 Beginning inventory..... Purchases... Sales ... Purchases...... Purchases ......... Sales 10 units 25 units Sunits 25 units 35 units 12 units 20 unts 10 units $115 - $ 2,300 (5119 $ 1,190 23 units $150 55 units $5,990 Knowledge Check 01 A company uses a periodic inventory system. On August 1, the company had 6 items of beginning inventory with a cost of $7 per unit On August 2. the company purchased 16 units at $14 per unit. Then, on August 5, the company sold 12 units. Using FIFO, the cost of the 12 units sold is