Robbins Company uses the perpetual inventory system and the FIFO cost formula. Instructions
a. Using the inventory and sales data above, calculate the value assigned to cost of goods sold in March and to the ending inventory at March 31.
b. Prepare the journal entries to record the sales on March 4 and March 19. All sales are made on credit.

Question

Robbins Company uses the perpetual inventory system and the FIFO cost formula.  Instructions 
a. Using the inventory and sales data above, calculate the value assigned to cost of goods sold in March and to the ending inventory at March 31.
b. Prepare the journal entries to record the sales on March 4 and March 19. All sales are made on credit.

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The Answer of Robbins Company uses the perpetual inventory system and the FIFO cost formula.  Instructions 
a. Using the inventory and sales data above, calculate the value assigned to cost of goods sold in March and to the ending inventory at March 31.
b. Prepare the journal entries to record the sales on March 4 and March 19. All sales are made on credit.

Robbins Company Uses the Perpetual Inventory System and the FIFO