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Vaughn Companys record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 690 @ $6.00 April 3
Vaughn Companys record of transactions for the month of April was as follows.
Purchases | Sales | ||||||||||
April 1 | (balance on hand) | 690 | @ | $6.00 | April 3 | 575 | @ | $10.00 | |||
4 | 1,725 | @ | 6.09 | 9 | 1,610 | @ | 10.00 | ||||
8 | 920 | @ | 6.40 | 11 | 690 | @ | 11.00 | ||||
13 | 1,380 | @ | 6.60 | 23 | 1,380 | @ | 11.00 | ||||
21 | 805 | @ | 6.70 | 27 | 1,035 | @ | 12.00 | ||||
29 | 575 | @ | 6.87 | 5,290 | |||||||
6,095 |
Compute cost of goods sold assuming periodic inventory procedures and inventory priced at FIFO.
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