Question: Drill Problem 18-3 (Algo) [LU 18-1 (2)] Given the following: Number purchased Cost per unit Total January 1 inventory 52 $ 4 $ 208 April

Drill Problem 18-3 (Algo) [LU 18-1 (2)]

Given the following:

Number purchased Cost per unit Total
January 1 inventory 52 $ 4 $ 208
April 1 72 7 504
June 1 62 8 496
November 1 67 9 603
253 $ 1,811

a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 73 units).

b. Calculate the cost of goods sold using the FIFO (ending inventory shows 73 units).

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