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Chapter 6 Homework 1. Inventory Costing: FIFO 2. Filimonov Inc. has the following...

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Chapter 6 Homework 1. Inventory Costing: FIFO 2. Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: Date Description Units Purchased at Cost 3 Retail Units Sold June 1 Beginning inventory 200 units @ $10 - $2,000 4. 9 Purchase 1 290 units @ $15 = $4,350 5. 14 Sale 1 270 units @ $25 22 Purchase 2 210 units @ $17 = $3,570 6. 29 Sale 2 235 units @ $25 7. Refer to the information for Filimonov Inc. and assume that the company uses a perpetual inventory system. 8. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. 9. 10. 11. Open spreadsheet 12. Required: 13. Calculate the cost of goods sold and the cost of ending inventory using the FIFO inventory costing method. Cost of goods sold Cost of ending inventory Check My Work 3 more Check My Work uses remaining. Previous Next Progress: 7/13 items Assignment Score: 48.08% All work saved. Email Instructor Save and Exit Submit Assignment for Grading

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