Question: answer William & Company uses a perpetual inventory system. The following information is available for November: Purchase Sales Units Price Price MNowv. 1 Inventory 20

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William & Company uses a perpetual inventory system. The following information is available for November: Purchase Sales Units Price Price MNowv. 1 Inventory 20 &5 4 Purchase 40 %5.50 7 Purchase 40 59 10 Sale {20) %8 12 Sale (50) $8 (a) Calculate the cost of goods sold and ending inventory under FIFQ. FIFO Ending inventory % Cost of goods sold 5

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