Question
Ivanhoe Company uses a periodic inventory system. For April, when the company sold600units, the following information is available. Units Units Sold Total Cost April 1
Ivanhoe Company uses a periodic inventory system. For April, when the company sold600units, the following information is available.
Units Units Sold Total Cost
April 1 Inventory 270 16 4320
April 15 purchase 410 19 7790
April 23 purchase 320 21 6720
1000 18830
Compute the April 30 inventory and the April cost of goods sold using the FIFO method.
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International Accounting
Authors: Timothy Doupnik, Mark Finn, Giorgio Gotti, Hector Perera
5th edition
1259747980, 9781259747984, 1260466531, 978-1260466539
