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Compute the April inventory and the April cost of goods sold

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Reference no: EM132497330

Question - Sheffield Company uses a periodic inventory system. For April, when the company sold 560 units, the following information is available.

 

Units

Unit Cost

Total Cost

April 1 inventory

240

$27

$6,480

April 15 purchase

370

32

11,840

April 23 purchase

390

35

13,650

 

1,000

 

$31,970

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

Reference no: EM132497330

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