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Stellar company uses a periodic inventory system compute

Question - Stellar Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available.

Units Unit Cost Total Cost

April 1 inventory 340 $23 7,820

April 15 purchase 390 28 10,920

April 23 purchase 270 30 8,100

1,000 $26,840

Required - Compute the April 30 inventory and the April cost of goods sold using the FIFO method.

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Accounting Basics: Stellar company uses a periodic inventory system compute

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