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Compute the April inventory

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Question - 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

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

Reference no: EM132621289

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