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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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