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 15 units @ $53 each. July 8 purchase 16 units @ $56 each. July 15 purchase 11 units @ $60 each. July 26 purchase 11 units @ $65 each. On July 31, Spacely counts 7 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 31 7 65 455 TOTAL 455 Date Units Cost = Total July 1 15 53 795 July 8 16 56 896 July 15 11 60 660 July 26 4 65 260 TOTAL 2611