Question - Pharoah Company uses a periodic inventory system. For April, when the company sold 450 units, the following information is available.
|
|
Units
|
Unit Cost
|
Total Cost
|
|
April 1 inventory
|
260
|
$29
|
$7,540
|
|
April 15 purchase
|
360
|
35
|
12,600
|
|
April 23 purchase
|
380
|
38
|
14,440
|
|
|
1,000
|
|
$34,580
|
Compute the April 30 inventory and the April cost of goods sold using the FIFO method.