Try another version of this question The periodic inventory records of Spacely’s Sprockets indicate the following for the month of July: July 1 beginning merchandise inventory 18 units @ $52 each. July 8 purchase 16 units @ $58 each. July 15 purchase 11 units @ $60 each. July 26 purchase 11 units @ $62 each. On July 31, Spacely counts 5 units of merchandise on hand. Computing periodic inventory amounts - FIFO Ending merchandise inventory is... Cost of goods sold...
Date Units Cost = Total TOTAL Date Units Cost = Total TOTAL Date Units Cost = Total July 26 5 62 310 TOTAL 310 Date Units Cost = Total July 1 18 52 936 July 8 16 58 928 July 15 11 60 660 July 26 6 62 372 TOTAL 2896