Reference no: EM132614312

TK Suppliers is a wholesale company. They focus primarily on office supplies, furniture and small electronic items. TK Suppliers uses the perpetual inventory system. For one specific inventory item they had the following transactions for the month of April.

There were 210 items at the beginning of the month, with a cost of $50 each.

Date                   Transaction                Quantity                Price

Apr 5                 Purchased items          300             $51

Apr 7                  Sold items                   410

Apr 15               Purchased items              350           $53

Apr 19                 Purchased items            440         $49

Apr 27                 Sold items                      390

Question 1: Calculate the value of COGS for the month of April and the value of ending inventory at the end of April using the FIFO method.