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Sunland Company uses a periodic inventory system. For October, when the company sold 550 units, the following information is available. Units Unit Cost Total Cost
Sunland Company uses a periodic inventory system. For October, when the company sold 550 units, the following information is available.
Units | Unit Cost | Total Cost | ||||
---|---|---|---|---|---|---|
October 1 inventory | 200 | $16 | $3,200 | |||
October 8 purchase | 400 | 17 | 6,800 | |||
October 25 purchase | 200 | 20 | 4,000 | |||
800 | $14,000 |
Compute the October 31 inventory and the October cost of goods sold using the FIFO method.
Ending inventory | $enter the ending inventory in dollars | |
---|---|---|
Cost of goods sold | $enter the cost of goods sold in dollars |
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