Raptor Candles has the following inventory schedule for its luxury line of candles.

Date Quantity                             unit cost                Sales Price

Beginning Inventory 3/1/2023           50                        $30

Purchase. 3/3/2023                             30                         $35

Sale 3/10/2023                                     60                         $85

Purchase 3/15/2023                             25                        $40

Purchase 3/20/2023                           35                          $45

Sale 3/28/2023                                     65                          $85

 Required

Assuming the Company uses First-in, First Out, what is Raptor Drinks' Cost of goods sold and ending inventory in dollar amounts for the month ? 

Assuming the company uses Last in, Last out, what is Raptors drinks' Cost of goods sold and ending inventory in dollar amount for the month?

Answer rating: 100% (QA)

i Assuming the company uses Firstin Firstout FIFO method We will start with the beginning inventory of 50 units at a cost of 30 then consider the purc... View the full answer