The following data represent the beginning inventory and, in the order of occurrence, the purchases and sales of Tina Star Company for an operating period Units Unit Cost Total Cost Units Sold Units on Hand Beginning Inventory 20 $116 $2,230 20 Purchase No 1 20 124 2,480 40 Sale No 1 30 10 Purchase No 2 90 128 11,520 100 Sale No 2 80 20 Purchase No 3 70 144 10,080 90 Totals 200 $26,400 110 Assuming Tina Star Company uses FIFO perpetual inventory procedures, sale no 2 is recorded as an entry to Cost Of Goods Sold for

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Question: The following data represent the beginning inventory and, in the order of occurrence, the purchases and sales of Tina Star Company for an operating period.

The following data represent the beginning inventory and, in the order of occurrence, the purchases and sales of Tina Star Company for an operating period.

	Units	Unit Cost	Total Cost	Units Sold	Units on Hand
Beginning Inventory	20	$116	$2,230		20
Purchase No. 1	20	124	2,480		40
Sale No. 1				30	10
Purchase No. 2	90	128	11,520		100
Sale No. 2				80	20
Purchase No. 3	70	144	10,080	___	90
Totals	200		$26,400	110

Assuming Tina Star Company uses FIFO perpetual inventory procedures, sale no. 2 is recorded as an entry to Cost Of Goods Sold for:

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