FIFO METHOD
Date	ORIGINAL ORDER
	Description	Quantity in LB	Price	Total Cost
	Milk	200	$ 2.25	$ 450.00
	Sugar	200	$ 1.20	$ 240.00
	Vanilla	1	$ 550.00	$ 550.00
	Cacao	200	$ 3.50	$ 700.00
	Butter	200	$ 2.95	$ 590.00
				$ 2,530.00
	SECOND ORDER COSTS AND QUANITY
	Description	Quantity in LB	Price	Total Cost
	Milk	200	$ 2.85	$ 570.00
	Sugar	200	$ 1.50	$ 300.00
	Butter	100	$ 3.15	$ 315.00
				$ 1,185.00
	ENDING INVENTORY
	Description	Quantity in LB	Price	Total Cost
	Milk	30	$ 2.85	$ 85.50
	Sugar	55	$ 1.50	$ 82.50
	Vanilla	0.25	$ 550.00	$ 137.50
	Cacao	35	$ 3.50	$ 122.50
	Butter	75	$ 3.15	$ 236.25
				$ 664.25
30-Jun	COST OF GOODS SOLD AND INVENTORY CALCULATION
		Original Order
		Second Order
		Freight Cost
	$3,715.00	Inventory Available for Sale
	$ 664.25	Less: Ending Inventory Value
	$3,715.00 - $664.25 = $3,050.75	Cost of Goods Sold