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John Adams Companys record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 600 @ $ 6
John Adams Companys record of transactions for the month of April was as follows.
Purchases | Sales | ||||||||||
April 1 | (balance on hand) | 600 | @ | $ 6 | April 3 | 500 | @ | $ 10 | |||
4 | 1,500 | @ | 6.08 | 9 | 1,400 | @ | 10 | ||||
8 | 800 | @ | 6.4 | 11 | 600 | @ | 11 | ||||
13 | 1,200 | @ | 6.5 | 23 | 1,200 | @ | 11 | ||||
21 | 700 | @ | 6.6 | 27 | 900 | @ | 12 | ||||
29 | 500 | @ | 6.79 | 4,600 | |||||||
5,300 |
Compute cost of goods sold assuming periodic inventory procedures and inventory priced at FIFO. (Round answer to 0 decimal places, e.g. 2,760.)
Cost of goods sold | $. |
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