Riverbed Company sells many products. Gizmo is one of its popular items. Below is an...
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Riverbed 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. Riverbed Company uses the periodic inventory system. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 110 $ 30 3/3 Purchase 63 $40 3/4 Sales 63 $ 70 3/10 Purchase 220 $ 45 3/16 Sales 71 $80 102 $ 80 3/19 Sales 63 $ 80 3/25 Sales 3/30 Purchase 47 $50 (a) Using the FIFO assumption, calculate the amount charged to cost of goods sold for March. Cost of goods sold ta $
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