Question

Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2020 as follows:

Jan.	1	Beginning inventory	130	units	@	$	8.00		=	$	1,040.00
Jan.	10	Sold	60	units	@	$	16.50		=		990.00
Mar.	7	Purchased	400	units	@	$	7.30		=		2,920.00
Mar.	15	Sold	120	units	@	$	16.50		=		1,980.00
July	28	Purchased	650	units	@	$	7.10		=		4,615.00
Oct.	3	Purchased	600	units	@	$	7.00		=		4,200.00
Oct.	5	Sold	870	units	@	$	16.50		=		14,355.00

Assume that Car Armour specifically sold the following units:

Jan.	10:	60	units from beginning inventory
Mar.	15:	30	units from beginning inventory, and
		90	units from the March 7 purchase
Oct.	5:	350	units from the July 28 purchase, and
		520	units from the October 3 purchase

Calculate cost to be assigned to ending inventory and cost of goods sold. (Round your final answers to 2 decimal places.)

Answer 1