Question

Sheridan Company uses a periodic inventory system. For April, when the company sold 450 units, the...

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

Units

Unit Cost

Total Cost

April 1 inventory

280 $17 $ 4,760

April 15 purchase

420 20 8,400

April 23 purchase

300

22

6,600

1,000

$19,760

Compute the April 30 inventory and the April cost of goods sold using the FIFO method.

Ending inventory

$enter a dollar amount

Cost of goods sold

$enter a dollar amount

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