INSTRUCTIONS: Answer questions below using the following data:

DATE UNITS UNIT COST TOTAL COST $1-$Oct Beginning Inventory $30$ $ $11.$ $ $330$

$4-$Oct Purchase $50$ $ $14.$ $ $700$

$7-$Oct Sale $($Selling price$=30.$ per unit$)20$

$18-$Oct Purchase $45$ $ $15.$ $ $675.$

$30-$Oct Sale $($Selling price$=30.$per unit$)70$

USE FIFO PERPETUAL INVENTORY

$1.$ Selling price $=$$$30$ per unit.

How many units were sold for the month?

$2.$ HOW MANY UNITS WERE AVAILABLE FOR SALE $?$

$3.$ WHAT IS THE COST OF GOODS AVAILABLE FOR SALE?

$4.$ WHAT ARE SALES FOR THE MONTH $?$

Selling price is $$30$ per unit.

$5.$ What is the Cost of GOODS Sold for the $20$ units sold on OCT $7$th$?$

USE FIFO PERPETUAL

What is the COST OF GOODS SOLD for the $70$ units sold on OCT $30$th sale only?

USE FIFO PERPETUAL

What is the total cost of goods sold for the month?

What is the gross profit for the month?

What is the COST OF ENDING INVENTORY?