Concord 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.

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Vikram Bhai 

Concord 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
$
Transcribed Image Text:Concord 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 $
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