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Pronghorn Company uses a periodic inventory system. For April, when the company sold 400 units, the following information is available. Units Unit Cost Total Cost
Pronghorn Company uses a periodic inventory system. For April, when the company sold 400 units, the following information is available.
Units | Unit Cost | Total Cost | ||||||
April 1 inventory | 220 | $11 | $ 2,420 | |||||
April 15 purchase | 450 | 13 | 5,850 | |||||
April 23 purchase | 330 | 14 | 4,620 | |||||
1,000 | $12,890 |
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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