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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.

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.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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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