August 1 Date Activities Beginning inventory Purchase August 1 August 5 August 10 August 15 August 25 Sale Purchase Sale 130 units sold 120 units sold Use the above information to calculate ending inventory using FIFO for a company that uses a perpetual inventory system. Date August 5 Total August 5 August 10 August 15 Total August 15 August 25 Total August 25 Units Acquired at Cost 170 units @ $10 = $1,700 110 units @ $12 = $1,320 140 units @ $13 = $1,820 Goods purchased Number of Cost per units unit Number of units sold Cost of Goods Sold Cost per unit Units Sold at Retail Cost of Goods Sold $ 0.00 Number of units Inventory Balance Cost per unit Inventory Balance $ $ $ 0.00 0.00 0.00

Use the above information to calculate ending inventory using FIFO for a company that uses a perpetual inventory system