Kingbird 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 LIFO method.
Ending inventory |
$
|
|
Cost of goods sold |
$
|
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