Maria Company sells many products. Gizmo is one of its popular items. Below is an...
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Accounting
Maria Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for the month of March. Maria Company uses the perpetual inventory system.
Purchases
Sales
Units
Unit Cost
Units
Selling Price/Unit
3/1
Beginning inventory
105
$42
3/3
Purchase
55
$48
3/4
Sales
60
$75
3/10
Purchase
195
$50
3/16
Sales
90
$90
3/19
Sales
75
$90
3/25
Sales
65
$85
3/30
Purchase
35
$60
Using the FIFO assumption, calculate the amount charged to cost of goods sold for March.
Cost of goods sold
$enter Cost of goods sold in dollars
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