Flora's Gifts reported the following current-month data for its
only product. The company uses a periodic inventory system, and its
ending inventory consists of 78 units—59 units from the January 6
purchase and 19 units from the January 25 purchase.
Jan. | 1 | Beginning inventory | 180 | units | @ $3.80 | = | $ | 684.00 |
Jan. | 6 | Purchase | 354 | units | @ $3.30 | = | 1,168.20 | |
Jan. | 17 | Purchase | 585 | units | @ $3.20 | = | 1,872.00 | |
Jan. | 25 | Purchase | 31 | units | @ $2.90 | = | 89.90 | |
Totals | 1,150 | units | $ | 3,814.10 | ||||
Determine the cost assigned to ending inventory and to cost of
goods sold for the following. (Do not round intermediate
calculations and round your answers to nearest whole
dollar.)
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