Question
Cullumber Company uses a periodic inventory system. Its records show the following for the month of April, with 25 units on hand at April 30:
Cullumber Company uses a periodic inventory system. Its records show the following for the month of April, with 25 units on hand at
April 30:
April 1
12
16
Inventory
Purchases
Purchases
Total
Units
30
45
17
92
Unit
Cost
$8
10.
Total
Cost
$240
= 450
187
5877
(a)
* Your answer is incorrect.
Calculate the ending inventory and cost of goods sold at April 30 using the FIFO and weighted average cost formulas. (Round the weighted average cost per unit to 2 decimal places, e.g. 52.75 and final answers to O decimal places, e.g. 5,275.)
FIFO
Weighted averaze
Ending Inventory
Cost of Goods Sold
1857
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