The Clark Company sells only one product. It began the year with 100 units on...
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Accounting
The Clark Company sells only one product. It began the year with 100 units on hand with a cost of $10 each. During the year they made the following purchases: Jan. 15 200 units $11 $2200 Mar. 1 300 units $12 $3600 May 21 250 units $13 $3250 July 3 100 units $14 $1400 Sept 25 200 units $15 $3000 Nov. 30 150 units $16 $2400 At December 31, a physical inventory revealed 400 units remained in inventory. Determine the Cost of Goods Sold and the Ending Inventory assuming the company uses: a. First-In, First-Out (FIFO) method
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