Question

home I Beginn der entering A 810 unite a June 14 ) $29= $ 17,690 $28 2 $22,680 $ 18, 640 $34,840 1340 unite Do it fifo Method Given Date April 2 Beyinly misentery Glounice a 320 units $24- $26 = 834 3080 unit sales peine per unit & SI Sales unita 13,50 unite Oct 3 17,00 units Openating expenses fer unit & lite for sale May

Answer 1

FIFO:

Date	Units	Unit Cost	Total Cost	Units	Unit Cost	Total Cost	Units	Unit Cost	Total Cost
Jan 1							610	29	17690
Apr 2	810	28	22680				610	29	17690
							810	28	22680
May 20				610	29	17690	70	28	1960
				740	28	20720
Jun 14	320	27	8640				70	28	1960
							320	27	8640
Aug 29	1340	26	34840				70	28	1960
							320	27	8640
							1340	26	34840
Oct 23				70	28	1960	30	26	780
				320	27	8640
				1310	26	34060
					COGS	83070	Ending	Inventory	780

Sales ($51*3050)	155,550
Less: COGS	83,070
Gross Margin	72,480
Less: Operating Expenses ($7*3050)	21,350
Operating Income	51,130