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(Suggested time 7 - 9 minutes - 16 marks) Read Company uses the FIFO method for inventory costing. On April 11, the company had 15
(Suggested time 7 - 9 minutes - 16 marks) Read Company uses the FIFO method for inventory costing. On April 11, the company had 15 units of product for a total cost of $270.00. These 15 items were all purchased on March 28" On April 6, the company purchased 25 items for a total cost of $500. On April 9th the company sold 25 units for $50 each. On April 14h the company spends $264.00 for units at $22/unit. If needed round to two decimal places. What is the unit cost of the items purchased on April 6th? $ What is the total number of units in inventory after the April 6th purchase? units What is the total cost of inventory on April 7th? $ What is the cost of goods sold on April 9th? $ What is the ending inventory balance on April 9th? $ What is the ending inventory balance on April 14th? $ How many units are on hand on April 14+? units What is the profit earned per unit for the items sold on April 977 $
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