A company sells a single product and had the following beginning inventory, purchases, and sales during...

 

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A company sells a single product and had the following beginning inventory, purchases, and sales during March. March 6 8 10 12 30 Beginning Inventory Purchase Purchase Sale Sale Purchase Number of units 20 40 50 45 35 25 Price per unit 8 10 9 13 13 7 Calculate the cost of the ending inventory and cost of goods sold under the assumption that the company follows perpetual inventory system using FIFO. A company sells a single product and had the following beginning inventory, purchases, and sales during March. March 6 8 10 12 30 Beginning Inventory Purchase Purchase Sale Sale Purchase Number of units 20 40 50 45 35 25 Price per unit 8 10 9 13 13 7 Calculate the cost of the ending inventory and cost of goods sold under the assumption that the company follows perpetual inventory system using FIFO.

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