Vaughn Company uses a periodic inventory system. For April, when the company sold 540 units, the following information is available.April 1 inventoryApril 15 purchaseApril 23 purchaseEnding inventoryUnitsCost of goods sold2203804001,000Unit Cost$25$3033Total Cost$5,500Compute the April 30 inventory and the April cost of goods sold using the FIFO method.11,40013,200$30,100

Name: Vaughn Company uses a periodic inventory system. For April, when the
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Description: Vaughn Company uses a periodic inventory system. For April, when the company sold 540 units, the following information is available.April 1 inventoryApril 15 purchaseApril 23 purchaseEnding inventoryUnitsCost of goods sold2203804001,000Unit Cost$25$

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Vaughn Company uses a periodic inventory system. For April, when the company sold 540 units, the following information is available. April 1 inventory April 15 purchase April 23 purchase Units Unit Cost $25 Ending inventory 220 380 400 1,000 30 33 Cost of goods sold $ Total Cost $5,500 11,400 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. 13,200 $30,100

Vaughn Company uses a periodic inventory system. For April, when the company sold 540 units, the following information is available. April 1 inventory April 15 purchase April 23 purchase Units Unit Cost $25 Ending inventory 220 380 400 1,000 30 33 Cost of goods sold $ Total Cost $5,500 11,400 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. 13,200 $30,100

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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