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ABC Company sells many products

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ABC Company sells many products. PlayStation is one of its popular items. Below is an analysis of the inventory purchases and sales of PlayStation for the month of March. "ABC" Company uses the perpetual inventory system Date Transaction Purchases Sales Cost Selling Units per Units Price Per unit Unit 1/3Beginning inventory 100 $40 3/3Purchase 60 $50 4/3Sales 70 $80 10/3Purchase 200 $55 16/3Sales 80 $90 19/3Sales 60 $90 25/3Sales 70 $90 30/3Purchase 40 S60 Instructions Using the FIFO assumption, answer the following questions 1. What is the amount charged to cost of goods sold for March 2. What is the amount charged to inventory for March 3. If the inventory has an NRV of $6000. Then the inventory must be presented on the statement of to search o
10/3Purchase 200 $55 16/3Sales 80 $90 19/3Sales 60 $90 25/3Sales 70 $90 30/3Purchase 40 $60 Instructions Using the FIFO assumption answer the following questions: 1. What is the amount charged to cost of goods sold for March. 2. What is the amount charged to inventory for March 3. If the inventory has an NRV of $6,000. Then the inventory must be presented on the statement of financial position with an amount equal to