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Amsterdam Company uses a periodic inventory system. For April, when the company sold 600 units, the following information is available. Units Unit Cost Total Cost
Amsterdam Company uses a periodic inventory system. For April, when the company sold 600 units, the following information is available.
Units | Unit Cost | Total Cost | ||||||
---|---|---|---|---|---|---|---|---|
April 1 inventory | 250 | $10 | $ 2,500 | |||||
April 15 purchase | 400 | 12 | 4,800 | |||||
April 23 purchase | 350 | 13 | 4,550 | |||||
1,000 | $11,850 |
Compute the April 30 inventory and the April cost of goods sold using the LIFO method.
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