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(Solved) Brief Exercise 8-6 Novak Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is...


Intermediate accounting II Week 5 Brief Exercise 8-6

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Brief Exercise 8-6
Novak Company uses a periodic inventory system. For April, when the company sold 550 units, the
following information is available.
Unit
s Unit
Cost Total Cost April 1 inventory 300 $19 $ 5,700 April 15 purchase 410 23 9,430 290 25 April 23 purchase 1,000 7,250
$22,380 Compute the April 30 inventory and the April cost of goods sold using the LIFO method.
$
Ending inventory
$
Cost of goods sold

 


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