Question
For April, when the company sold 600 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 270 $16 $ 4,320
For April, when the company sold 600 units, the following information is available.
| Units | Unit Cost | Total Cost | ||||||
|---|---|---|---|---|---|---|---|---|
| April 1 inventory | 270 | $16 | $ 4,320 | |||||
| April 15 purchase | 410 | 19 | 7,790 | |||||
| April 23 purchase | 320 | 21 | 6,720 | |||||
| 1,000 | $18,830 | |||||||
Compute the April 30 inventory and the April cost of goods sold using the FIFO method.
Ending Inventory:
Cost of Goods sold:
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Core Concepts Of Accounting Information Systems
Authors: Nancy A. Bagranoff, Mark G. Simkin, Carolyn Strand Norman
11th Edition
9780470507025, 0470507020
