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Calculate the ending inventory and cost of goods sold

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Question - Blossom Company uses a periodic inventory system. Its records show the following for the month of April, with 27 units on hand at April 30:

Units Unit Cost Total Cost

April 1 Inventory 31 $9 $279

12 Purchases 43 11 473

16 Purchases 14 10 140

Total 88 892

Calculate the ending inventory and cost of goods sold at April 30 using the FIFO and weighted average cost formulas.

Prove the cost of goods sold calculations.

Calculate the inventory turnover, days sales in inventory, and gross profit margin for 2021 and 2020.

Reference no: EM132899401

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