Question
Larkspur Company uses a periodic inventory system. For April, when the company sold560units, the following information is available. Units Unit Cost Total Cost April 1
Larkspur Company uses a periodic inventory system. For April, when the company sold560units, the following information is available.
Units
Unit Cost
Total Cost
April 1 inventory240$27$ 6,480April 15 purchase3703211,840April 23 purchase390
3513,650
1,000
$31,970
Compute the April 30 inventory and the April cost of goods sold using the FIFO method.
Ending inventory$
Cost of goods sold$
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Financial Accounting
Authors: Robert Kemp, Jeffrey Waybright
4th edition
978-0134125053, 9780134114781, 134125053, 134114787, 978-0134436111
