USING FIFO

Units Unit Cost Beginning inventory 270 $43 Purchase: April 6 420 37 Sale: May 4 440 Purchase: July 19 330 32 Sale: September 9 340 Purchase: October 10 180 31 Bell uses the perpetual inventory system and the FIFO method. Required: Using FIFO (a) Compute the cost of ending inventory. (b) Compute the cost of goods sold for the year. Cost of ending inventory $ so $ sa Cost of goods sold