Zipp Hotel has a fiscal year end of December 31. The gift shop sells one...
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Zipp Hotel has a fiscal year end of December 31. The gift shop sells one kind of souvenir tote bag. On January 1, the gift shop had 23 units in inventory with a cost of $29 each. During the year, 69 units were sold Zipp Hotel uses a periodic inventory system Date Purchases Quantity Cost Valuc Jan 1 23 $29 $ Feb 20 23 $31 $ Mar 15 23 $33$ Jun 10 25 $34 $ Sep 30 30 $36 $ Nov 20 301 $38 $ Required Do not enter dollar signs or commas in the put boxes Assume the FIFO inventory valuation method was used. Determine 1) ending inventory and it) cost of sales. Ending inventory - 5 Cost of Sales
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