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Question - The following data are available for the month of April 2016:
April 1 inventory 120 units at $8.15 each
April 10 purchase 200 units at $8.20 each
April 20 purchase 410 units at $8.40 each
April 25 purchase 310 units at $8.50 each
630 units were sold during April.
a) How many units are on hand on 30 April?
b) Calculate the value of ending inventory under:
1) Periodic FIFO
2) Periodic LIFO
3) Average cost
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