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Compute the April inventory and the April cost of goods sold

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Question - Concord Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available.

Units Unit Cost Total Cost

April 1 inventory 260 $15 $3,900

April 15 purchase 430 18 7,740

April 23 purchase 310 206,200 1,000

$17,840

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

Reference no: EM132740030

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