Question
Windsor Company uses a periodic inventory system. For April, when the company sold 470 units, the following information is available. Units Unit Cost Total Cost
Windsor 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 | 250 | $18 | $ 4,500 | |||||
| April 15 purchase | 400 | 22 | 8,800 | |||||
| April 23 purchase | 350 | 23 | 8,050 | |||||
| 1,000 | $21,350 | |||||||
Compute the April 30 inventory and the April cost of goods sold using the FIFO method.
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Contemporary Auditing Real Issues And Cases
Authors: Michael C. Knapp
8th Edition
0538466790, 9780538466790
