Nature Inc.'s inventories are determined using FIFO. Nature Inc. provided the following information for the first quarter of 2019:

Required:
a. Compute the company's cost of goods sold for the first quarter.
b. Computer the ending inventory to be reported on Nature's balance sheet at March 31, 2019.

Question

Nature Inc.'s inventories are determined using FIFO. Nature Inc. provided the following information for the first quarter of 2019:
  
Required:
a. Compute the company's cost of goods sold for the first quarter.
b. Computer the ending inventory to be reported on Nature's balance sheet at March 31, 2019.

Quizplus · Accepted Answer

The Answer of Nature Inc.'s inventories are determined using FIFO. Nature Inc. provided the following information for the first quarter of 2019:
  
Required:
a. Compute the company's cost of goods sold for the first quarter.
b. Computer the ending inventory to be reported on Nature's balance sheet at March 31, 2019.