The Following Data Are Available for One of the Products

question 101

Essay

The following data are available for one of the products sold by Paschal Exports, which uses a perpetual inventory system. $\begin{array}{llr}\text { July } 1& \text { Beginning inventory, } 1,000 \text { units at } \$ 2 \text { each } & \$ 2,000 \\5 & \text { Purchased } 2,000 \text { units at } \$ 2.75 \text { each } & 5,500 \\10 & \text { Sold } 2,500 \text { units for } \$ 16 \text { each } & \\15 & \text { Purchased } 2,000 \text { units at } \$ 4 \text { each } & 8,000 \\25 & \text { Sold } 1,500 \text { units for } \$ 12 \text { each } & \\31 & \text { Ending inventory, } 1,000 \text { units } &\end{array}$

-Refer to the information provided for Paschal Exports.If the FIFO method of inventory costing is used,determine the following amounts:
A)cost of goods sold for the units sold on July 10th
B)ending inventory on July 31st

• A)cost of goods sold for the units sold on July 10th
• B)ending inventory on July 31st

---

Definitions:

Generation X

The demographic cohort following the baby boomers and preceding the Millennials, typically defined as being born from the early-to-mid 1960s to early 1980s.

Baby Boomers

Individuals born during the post-World War II baby boom between 1946 and 1964, known for significant social and economic impacts.

University Students

Individuals enrolled in courses of study at universities, undergoing higher education and academic training.

Hard to Reach

Refers to populations or demographic groups that are difficult for researchers, marketers, or service providers to access or engage with due to various barriers.