Vaughn Company uses a periodic inventory system. For April, when the company sold 540 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 220 $25 $5,500 April 15 purchase 380 30 11,400 April 23 purchase 400 33 13,200 1,000 $30,100
Vaughn Company uses a periodic inventory system. For April, when the company sold 540 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 220 $25 $5,500 April 15 purchase 380 30 11,400 April 23 purchase 400 33 13,200 1,000 $30,100
Intermediate Accounting: Reporting And Analysis
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ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...
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![Vaughn Company uses a periodic inventory system. For April, when the company sold 540 units, the following information is
available.
Units
Unit Cost
Total Cost
April 1 inventory
220
$25
$5,500
April 15 purchase
380
30
11,400
April 23 purchase
400
33
13.200
1.000
$30,100
Compute the April 30 inventory and the April cost of goods sold using the LIFO method.
Ending inventory
2$
Cost of goods sold
24](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5e3cc97e-a77f-4ac5-9e71-fb8b01208b37%2F21233bd3-8dfb-46ba-983a-36436f20ddbb%2Fwjpb9bl_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Vaughn Company uses a periodic inventory system. For April, when the company sold 540 units, the following information is
available.
Units
Unit Cost
Total Cost
April 1 inventory
220
$25
$5,500
April 15 purchase
380
30
11,400
April 23 purchase
400
33
13.200
1.000
$30,100
Compute the April 30 inventory and the April cost of goods sold using the LIFO method.
Ending inventory
2$
Cost of goods sold
24
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