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

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Crane Company uses a periodic inventory system. For April, when the company sold 400 units, the following information is available.

   
Units
 
Unit Cost
 
Total Cost
April 1 inventory
  220   $11     $ 2,420  
April 15 purchase
  450   13     5,850  
April 23 purchase
 
330
  14    
4,620
 
   
1,000
       
$12,890
 


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

Ending inventory
   
Cost of goods sold
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