Question: Use the format in Exhibit 9-1 to compute the ending FIFO inventory and cost of goods sold assuming: $600,000 in sales Beginning inventory 1125 units

Use the format in Exhibit 9-1 to compute the ending FIFO inventory and cost of goods sold assuming: $600,000 in sales Beginning inventory 1125 units @ $175 Purchases of 890 units @ $150 450 units @ $165 200 units @ $140 Ending inventory 845 units Using the FIFO method, what is the cost of goods sold percentage of sales? Use the format in Exhibit 9-1 to compute the ending FIFO inventory and cost of goods sold assuming: $560,000 in sales Beginning inventory 1125 units @ $175 Purchases of 890 units @ $150 450 units @ $165 200 units @ $140 Ending inventory 845 units What is the cost of goods sold?

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