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Coronado Company uses a periodic inventory system. For April, when the company sold 450 units, the following information is a

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Answer #1

Answer- Ending inventory =$12980.

Cost of goods sold =$12570.

Explanation-

LIFO METHOD
Goods purchased Cost of goods sold Inventory balance
Date # of units Cost per unit # of units sold Cost per unit Cost of goods sold # of units Cost per unit Inventory balance
Apr-01 330 22.00 7260
Apr-15 380 26.00 330 22.00 7260
380 26.00 9880
Apr-23 290 29.00 330 22.00 7260
380 26.00 9880
290 29.00 8410
Apr-30 290 29.00 8410 330 22.00 7260
160 26.00 4160 220 26.00 5720
Totals 450 12570 550 12980
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