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Marin Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available. Units Unit Cost Total Cost
Marin Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available.
Units | Unit Cost | Total Cost | ||||||
April 1 inventory | 340 | $23 | $ 7,820 | |||||
April 15 purchase | 390 | 28 | 10,920 | |||||
April 23 purchase | 270 | 30 | 8,100 | |||||
1,000 | $26,840 |
Compute the April 30 inventory and the April cost of goods sold using the FIFO method.
Ending inventory $______________ Cost of goods sold $_____________ |
please show your work
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