Shown below is the activity for one of the products of Random Creations: January 1...
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Accounting
Shown below is the activity for one of the products of Random Creations: January 1 balance, 96 units @ $50 $4,800 Purchases: January 18: 66 units @ $60 January 28: 66 units @ $61 Sales: January 12: 46 units January 22: 46 units January 31: 61 units Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Random Creations uses FIFO.
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