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Monty 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 230 $12 $ 2,760 April 15 purchase 430 14 6,020 April 23 purchase 340 16 5,440
Total 1000 $14,220
Compute the April 30 inventory and the April cost of goods sold using the FIFO method.
Ending inventory Cost of goods sold
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