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rane Company uses a periodic inventory system. For April, when the company sold 400 units, the following information is available. April 1 inventory April 15 purchase April 23 purchase Ending inventory Units Cost of goods sold 450 220 1,000 LA 330 LA $ Unit Cost ompute the April 30 inventory and the April cost of goods sold using the FIFO method. $ $11 13 14 Total Cost $ 2,420 5,850 4,620 $12,890

rane Company uses a periodic inventory system. For April, when the company sold 400 units, the following information is available. April 1 inventory April 15 purchase April 23 purchase Ending inventory Units Cost of goods sold 450 220 1,000 LA 330 LA $ Unit Cost ompute the April 30 inventory and the April cost of goods sold using the FIFO method. $ $11 13 14 Total Cost $ 2,420 5,850 4,620 $12,890

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 10RE: Jessie Stores uses the periodic system of calculating inventory. The following information is...
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Crane Company uses a periodic inventory system. For April, when the company sold 400 units, the following information is available. April 1 inventory April 15 purchase April 23 purchase Ending inventory Units Cost of goods sold 450 220 1,000 tA 330 tA $ Unit Cost Compute the April 30 inventory and the April cost of goods sold using the FIFO method. $ $11 13 14 Total Cost $ 2,420 5,850 4,620 $12,890
Transcribed Image Text:Crane Company uses a periodic inventory system. For April, when the company sold 400 units, the following information is available. April 1 inventory April 15 purchase April 23 purchase Ending inventory Units Cost of goods sold 450 220 1,000 tA 330 tA $ Unit Cost Compute the April 30 inventory and the April cost of goods sold using the FIFO method. $ $11 13 14 Total Cost $ 2,420 5,850 4,620 $12,890
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