Calculate the cost of goods sold dollar value for A65 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for first-in, first-out (FIFO). Number of units Unit cost Sales Beginning inventory 800 $ 50 purchased 600 52 Sold 400 $ 80 Sold 350 90 Ending inventory 650 Use this chart: FIFO (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining Number of Units Unit Cost Total Cost Number of Units Unit Cost Total Cost Number of Units Unit Cost Total Cost Beginning Purchase Sale Sale Total Purchases
Calculate the cost of goods sold dollar value for A65 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for first-in, first-out (FIFO). Number of units Unit cost Sales Beginning inventory 800 $ 50 purchased 600 52 Sold 400 $ 80 Sold 350 90 Ending inventory 650 Use this chart: FIFO (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining Number of Units Unit Cost Total Cost Number of Units Unit Cost Total Cost Number of Units Unit Cost Total Cost Beginning Purchase Sale Sale Total Purchases
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Calculate the cost of goods sold dollar value for A65 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for first-in, first-out (FIFO).
| Number of units | Unit cost | Sales | |
| Beginning inventory | 800 | $ 50 | |
| purchased | 600 | 52 | |
| Sold | 400 | $ 80 | |
| Sold | 350 | 90 | |
| Ending inventory | 650 |
Use this chart:
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FIFO (perpetual) Inventory |
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Cost of Goods Purchased |
Cost of Goods Sold |
Cost of Inventory Remaining |
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Number of Units |
Unit Cost |
Total Cost |
Number of Units |
Unit Cost |
Total Cost |
Number of Units |
Unit Cost |
Total Cost |
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Purchase |
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Total Purchases |
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Total COGS |
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