Question

Indigo Company uses a periodic inventory system. For April, when the company sold 570 units, the...

Indigo Company uses a periodic inventory system. For April, when the company sold 570 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 250 $28 $ 7,000 April 15 purchase 350 34 11,900 April 23 purchase 400 36 14,400 1,000 $33,300 Compute the April 30 inventory and the April cost of goods sold using the LIFO method. Ending inventory $ Cost of goods sold $

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Cullumber Company uses a periodic inventory system. For April, when the company sold 550 units, the...
Cullumber 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 250 $14 $ 3,500 April 15 purchase 420 17 7,140 April 23 purchase 330 18 5,940 1,000 $16,580 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory Cost of goods sold
Sunland Company uses a periodic inventory system. For April, when the company sold 550 units, the...
Sunland Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available. Units Units Cost Total Units April 1 Inventory 340 $23 $7,820 April 15 Purchase 390 28 10,920 April 23 Purchase 270 30 8,100 Total 1,000 $26,840 Compute the April 30 inventory and the April cost of goods sold using the average-cost method. (Round answers to 0 decimal places, e.g. 2,760.) Ending Inventory? Cost of Goods Sold?
Pronghorn Company uses a periodic inventory system. For April, when the company sold 400 units, the...
Pronghorn Company uses a periodic inventory system. For April, when the company sold 400 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 220 $11 $ 2,420 April 15 purchase 450 13 5,850 April 23 purchase 330 14 4,620 1,000 $12,890 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory $    Cost of goods sold $
Tamarisk Company uses a periodic inventory system. For April, when the company sold 550 units, the...
Tamarisk 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 20 6,200 1,000 $17,840 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory $ Cost of goods sold $
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.
Coronado Company uses a periodic inventory system. For April, when the company sold 450 units, the...
Coronado Company uses a periodic inventory system. For April, when the company sold 450 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 330 $22 $ 7,260 April 15 purchase 380 26 9,880 April 23 purchase 290 29 8,410 1,000 $25,550 (a) Correct answer iconYour answer is correct. Calculate weighted average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Weighted average cost per unit $enter weighted average cost per unit in dollars...
Vaughn uses the periodic inventory system. For the current month, the beginning inventory consisted of 7300...
Vaughn uses the periodic inventory system. For the current month, the beginning inventory consisted of 7300 units that cost $14 each. During the month, the company made two purchases: 3000 units at $15 each and 12200 units at $15.50 each. Vaughn also sold 12900 units during the month. Using the average cost method, what is the amount of cost of goods sold for the month? $199600. $187500. $193500. $192855. Carla Company uses a periodic inventory system. For April, when the...
Sheridan Company uses a periodic inventory system. For October, when the company sold 600 units, the...
Sheridan Company uses a periodic inventory system. For October, when the company sold 600 units, the following information is available. Units Unit Cost Total Cost October 1 inventory 220 $18 $3,960 October 8 purchase 440 19 8,360 October 25 purchase 220 22 4,840 880 $17,160 Compute the October 31 inventory and the October cost of goods sold using the FIFO method. Ending inventory $ Cost of goods sold $
Concord Company uses a periodic system reports the following for the month of June. Units Unit...
Concord Company uses a periodic system reports the following for the month of June. Units Unit Cost Total Cost June 1 Inventory 200 $5 $ 1,000 12 Purchase 450 6 2,700 23 Purchase 320 7 2,240 30 Inventory 120 Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO. FIFO LIFO Cost of the ending inventory $ $ Cost of goods sold
Vaughn Company, which uses a periodic inventory system, had a beginning inventory on May 1, of...
Vaughn Company, which uses a periodic inventory system, had a beginning inventory on May 1, of 300 units of Product A at a cost of $6.25 per unit. During May, the following purchases and sales were made. Purchases:   Sales: May 6 300 units at $7.20 May 4 275 units 14 400 units at $9.10 300 units 21 100 units at $11.50 22 400 units 28 500 1 ,300 units at $11.80 24 225 1 ,200 units Instructions: Compute the May...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT