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Bonita Company uses a periodic inventory system. For April, when the company sold 550 units, the...

Bonita 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

 300 $19 $ 5,700

April 15 purchase

 410 23 9,430

April 23 purchase

290

 25

7,250

1,000

$22,380


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

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Answer #1

Answer:

April 30 Inventory = $10,930

April Cost of goods sold = $11,450

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