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Sage Company uses a periodic inventory system. For April, when the company sold 470 units, the following information is available. Units Unit Cost Total Cost
Sage Company uses a periodic inventory system. For April, when the company sold 470 units, the following information is available.
Units | Unit Cost | Total Cost | ||||||
April 1 inventory | 290 | $18 | $ 5,220 | |||||
April 15 purchase | 400 | 22 | 8,800 | |||||
April 23 purchase | 310 | 23 | 7,130 | |||||
1,000 | $21,150 |
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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