Reference no: EM132614886

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.

210 50

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.