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Brief Exercise 8-6 Pronghorn Company uses a periodic inventory system. For April, when the company...

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Accounting

Brief Exercise 8-6

Pronghorn Company uses a periodic inventory system. For April, when the company sold 420 units, the following information is available.

Units

Unit Cost

Total Cost
April 1 inventory 240 $13 $ 3,120
April 15 purchase 440 16 7,040
April 23 purchase

320

 17

5,440

1,000

$15,600

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

Ending inventory $

image
Cost of goods sold $

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