Question – Novak Company uses a periodic inventory stsyem. For April, when the company sold 560 units, the following information is available.
|
|
Uints
|
Unit Cost
|
Total Cost
|
|
April 1 inventory
|
240
|
$27
|
$6,480
|
|
April 15 purchase
|
370
|
32
|
11,840
|
|
April 23 purchase
|
390
|
35
|
13,650
|
|
|
1,000
|
|
$31,970
|
Required - Compute the April 30 invenotry and the April cost of goods sold using the FIFO method.