Question: May 1 Beginning inventory . . . 8 units @ $170 = $1,360 15 Purchase . . . . . . . . . .

May 1 Beginning inventory . . . 8 units @ $170 = $1,360 15 Purchase . . . . . . . . . . . . 5 units @ 171 = $855 26 Purchase . . . . . . . . . . . . 12 units @ 180 = $2,160 FIND FIFO: COST OF GOOD SOLDS AND ENDING INVENTORY

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