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 @ $54 each. July 8 purchase 17 units @ $57 each. July 15 purchase 12 units @ $61 each. July 26 purchase 11 units @ $62 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... Question 1
Date Units Cost = Total TOTAL Date Units Cost = Total TOTAL Date Units Cost = Total July 31 7 62 434 TOTAL 434 Date Units Cost = Total July 1 15 54 810 July 8 17 57 969 July 15 12 61 732 July 26 4 62 248 TOTAL 2759