Acc422 Intermediate Accounting: BE8-7 Data for Amsterdam Company are presented in BE8-5
Acc422 Intermediate Accounting
BE8-7 Data for Amsterdam Company are presented in BE8-5. Compute the April 30 inventory and the April cost of goods sold using the LIFO method.
BE8-5 Amsterdam Company uses a periodic inventory system. For April, when the company sold 600 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 250 10 2,500 April 15 purchase 400 12 4,800 April 23 purchase 350 13 4,550 1,000 11,850