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Homework answers / question archive / For October, when the company sold 1,360 units, the following information is available

For October, when the company sold 1,360 units, the following information is available

Accounting

For October, when the company sold 1,360 units, the following information is available.

 

                                        Units                 Unit Cost    Total Cost

October 1 inventory                480                 $22                 $10,560

October 8 purchase               960                 23                   22,080

October 25 purchase            480                 26                   12,480

                                             1,920                                       $45,120

 

Compute the October 31 Ending inventory and the October cost of goods sold using the FIFO method.

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