Question

Chapter 8 Exercises Send to Gradebook Question 5 View Policies Show Attempt History Current Attempt in Progress * Your answer is incorrect Wildhorse Company uses a periodic inventory system. For April, when the company sold 570 units, the following information is avail Units Unit Cost Total Cost April 1 inventory April 15 purchase 250 $28 350 April 23 purchase $7.000 11.900 14.400 $33,300 400 36 1.000 Compute the April 30 inventory and the April cost of goods sold using the FIFO method Ending inventory Cost of goods sold s s eTextbook and Media search O Hê e

Answer 1

Cost of Goods Sold Ending Inventory FIFO Cost of Goods Available for Sale Cost of Goods Cost per # of units Available for unit Sale 250 28.00 7000 # of units Cost per unit | Cost of Goods Sold # of units Cost per unit Ending Inventory 250 28.00 7000 28.00 Beginning Inventory Purchases: Apr-15 Apr-23 Total 350 11900 L 1020 34.00 36.00 34.00 36.00 320 0 570 400 14400 33300 10880 0 17880 34.00 36.00 30 400 430 14400 15420 1000