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Brief Exercise 8-6Novak Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available.
Units
Unit Cost
Total Cost
April 1 inventory
300
$19
mce_markernbsp;5,700
April 15 purchase
410
23
9,430
April 23 purchase
290
25
7,250
1,000
$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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