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 19 units @ $55 each. July 8 purchase 17 units @ $56 each. July 15 purchase 11 units @ $61 each. July 26 purchase 9 units @ $65 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 65 520 TOTAL 520 Date Units Cost = Total July 1 19 55 1045 July 8 17 56 952 July 15 11 61 671 July 26 1 65 65 TOTAL 2733