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AJ, a bookseller, had the following transactions during the month of April 2022 and uses the perpetual inventory system. Date Transaction Purchases Sales Balance Quantity
AJ, a bookseller, had the following transactions during the month of April 2022 and uses the perpetual inventory system.
Date | Transaction | Purchases | Sales | Balance | |||
Quantity | Cost | Quantity | Cost | Quantity | Cost | ||
Apr 1 | 0 | $0 | |||||
Apr 1 | Bought 19 novels at $37 each. | 19 | $37 | 19 | $37 | ||
Apr 4 | Bought 23 bags at $44 each. | 19 | $37 | ||||
23 | $44 | 23 | $44 | ||||
Apr 7 | Sold 4 bags. | 19 | $37 | ||||
4 | $44 | 19 | $44 | ||||
Apr 11 | Bought 18 pencil cases at $5 each. | 19 | $37 | ||||
19 | $44 | ||||||
18 | $5 | 18 | $5 | ||||
Apr 24 | Sold 6 bags. | 19 | $37 | ||||
6 | $44 | 13 | $44 | ||||
18 | $5 | ||||||
Apr 25 | Sold 5 pencil cases | 19 | $37 | ||||
13 | $44 | ||||||
5 | $5 | 13 | $5 |
Required
The company uses the specific identification cost method for inventory valuation. Calculate the cost of goods sold, and the value of ending inventory for April.
Do not enter dollar signs or commas in the input boxes.
Cost of Goods Sold = $Answer
Ending Inventory = $Answer
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