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Compute the october inventory

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Question - Company uses a periodic inventory system. For October, when the company sold 1,730 units, the following information is available.

 

Units

Unit Cost

Total Cost

October 1 inventory

600

$24

$14,400

October 8 purchase

1,200

25

30,000

October 25 purchase

600

28

16,800

 

2,400

 

$61,200

Required - Compute the October 31 inventory and the October cost of goods sold using the FIFO method.

Reference no: EM132538691

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