Cost of Goods Sold Calculation (LIFO Method):

A company has the following inventory transactions for the month of April:

• April 1: Beginning Inventory - 200 units at $8 per unit
• April 10: Purchase - 300 units at $10 per unit
• April 20: Purchase - 250 units at $12 per unit
• April 25: Sale - 400 units

Requirements:

1. Calculate the cost of goods sold (COGS) for April using the LIFO method.
2. Determine the value of ending inventory as of April 30.
3. Prepare the journal entry to record the sale on April 25.