Brief Exercise 8-6

Pronghorn Company uses a periodic inventory system. For April, when the company sold 420 units, the following information is available.

		Units		Unit Cost		Total Cost
April 1 inventory		240		$13			$ 3,120
April 15 purchase		440		16			7,040
April 23 purchase		320		17			5,440
		1,000					$15,600

Compute the April 30 inventory and the April cost of goods sold using the LIFO method.

Ending inventory		$
Cost of goods sold		$

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