Date Transaction Number of Units Per Unit Total Jan. 1 Inventory 9,000 $60.00 $540,000 Jan....
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Date Transaction Number of Units Per Unit Total Jan. 1 Inventory 9,000 $60.00 $540,000 Jan. 10 Purchase 21,000 70.00 1,470,000 Jan. 28 Sale 10,250 140.00 1,435,000 Jan. 30 Sale 5,750 140.00 805,000 Feb. 5 Sale 3,500 140.00 490,000 Feb. 10 Purchase 39,500 75.00 2,962,500 Feb. 16 Sale 15,000 150.00 2,250,000 Feb. 28 Sale 10,000 150.00 1,500,000 Mar. 5 Purchase 25,000 82.00 2,050,000 Mar. 14 Sale 30,000 150.00 4,500,000 Mar. 25 Purchase 10,000 88.40 884,000 Mar. 30 Sale 19,000 150.00 2,850,000 1. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the first-in, first-out method and the periodic inventory system
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