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ABC Corporation provides the following details for the month of April 2024: Item Amount ($) Beginning Inventory (Apr 1) 25,000 Purchases 35,000 Sales 45,000 Ending
ABC Corporation provides the following details for the month of April 2024:
Item | Amount ($) |
Beginning Inventory (Apr 1) | 25,000 |
Purchases | 35,000 |
Sales | 45,000 |
Ending Inventory (Apr 30) | ? |
Required:
- Calculate the cost of goods sold for April 2024.
- Determine the ending inventory value using the FIFO method.
- Prepare a schedule of cost of goods manufactured (if additional information on manufacturing costs is provided).
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