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Jose Zorilla uses a perpetual inventory system. During April, he sold 700 units (270 units on April 20 and 430 units on April 28). The following other information is available:

		Units		Unit Cost			Total Cost
April 1		250		$12.20			$3,050.00
April 15 purchase		400		17.70			7,080
April 23 purchase		350		15.90			5,565
		1,000					$15,695

Calculate the April 30 inventory and the April cost of goods sold using the weighted average cost formula. (Round the weighted average cost per unit to 3 decimal places, e.g. 5.275 and final answers to 2 decimal places, e.g. 5,275.25.)

April 30 inventory		$
April cost of goods sold		$

Calculate the April 30 inventory and the April cost of goods sold using the FIFO cost formula.

April 30 inventory		$
April cost of goods sold		$

Prepare the journal entry to record the April 15 purchase assuming the company uses the FIFO method of inventory. All purchases are on credit. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Apr. 15

Prepare the journal entries to record the sale of units on April 28 for a total of $10,208, assuming the company uses the weighted average cost method. All sales are credit sales. (Round final answers to 2 decimal places, e.g. 5,275.25. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Apr. 28
	(To record credit sale)
Apr. 28
	(To record cost of goods)

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