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A company's inventory records show the following data for the month of April. Date April 1 April 5 Activities Beginning inventory Purchase April 9
A company's inventory records show the following data for the month of April. Date April 1 April 5 Activities Beginning inventory Purchase April 9 Sale April 14 Purchase April 20 April 30 Sale Purchase Units Acquired at Cost 380 units @ $18 = $6,840 320 units @ $20 = $6,400 280 units @ $22 = $6,160 270 units @ $25 Units Sold at Retail 530 units @ $55 230 units @ $55 = $6,750 If the company uses the first-in, first-out (FIFO) method and the perpetual inventory system, what would be the cost of the ending inventory? April 1 April 5 Goods purchased Cost of Goods Sold Inventory Balance Date units Number of Cost per unit Number of units sold Cost per Cost of Goods unit Sold Number of units Cost per unit Inventory Balance Total April 5 April 9 Total April 9 April 14 Total April 14 April 20 Total April 20 April 30 Total April 30
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