The Periodic Inventory Records of Zucker Sales Indicate the Following

question 147

Essay

The periodic inventory records of Zucker Sales indicate the following for the month of April:
$$\begin{array} { | r | l | r | } \hline \text { Apr. } 1 & \text { Beginning merchandise inventory } & 15 \text { units } @ \$ 32 \text { each } \\\hline 7 & \text { Purchase } & 7 \text { units } @ \$ 34 \text { each } \\\hline 18 & \text { Purchase } & 12 \text { units } @ \$ 37 \text { each } \\\hline 26 & \text { Purchase } & 10 \text { units } @ \$ 40 \text { each } \\\hline\end{array}$$ As of April 30,Zucker Sales counts 8 units of merchandise inventory on hand.
Compute ending merchandise inventory and cost of goods sold for Zucker using the LIFO inventory method.

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