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QUESTION
Buffalo Company uses a periodic inventory system. For April, when the company sold 450 units, the following information is available.
Buffalo 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
230
$12
$ 2,760
April 15 purchase
430
14
6,020
April 23 purchase
340
16
5,440
1,000
$14,220
Compute the April 30 inventory and the April cost of goods sold using the FIFO method.
Ending inventory
$
Cost of goods sold
