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 @ $50 each. July 8 purchase 13 units @ $57 each. July 15 purchase 11 units @ $60 each. July 26 purchase 11 units @ $63 each. On July 31, Spacely counts 8 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 26 8 63 504 TOTAL 504 Date Units Cost = Total July 1 15 50 750 July 8 13 57 741 July 15 11 60 660 July 26 3 63 189 TOTAL 2340