Question

Flora's Gifts reported the following current-month data for its only product. The company uses a periodic...

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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