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Apple Inc. provides the following details for the month of April 2024: Item Amount ($) Beginning Inventory (Apr 1) 500 million Purchases 700 million Sales

Apple Inc. provides the following details for the month of April 2024:

Item

Amount ($)

Beginning Inventory (Apr 1)

500 million

Purchases

700 million

Sales

900 million

Ending Inventory (Apr 30)

? million

Required:

  • Calculate the cost of goods sold for Apple Inc. 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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