Question - Ayayai Company's record of transactions for the month of April was as follows.
|
Purchases
|
Sales
|
|
April 1 (balance on hand)
|
642 @ $6.00
|
April 3
|
535 @ $10.000
|
|
4
|
1,605 @ 6.08
|
9
|
1,498 @ 10.00
|
|
8
|
856 @ 6.41
|
11
|
642 @ 11.00
|
|
13
|
1,284 @ 6.61
|
23
|
1,284 @ 11.00
|
|
21
|
749 @ 6.81
|
27
|
27 963 @ 12.00
|
|
29
|
535 @ 6.98
|
|
4,922
|
|
|
5,671
|
|
|
Compute cost of goods sold assuming periodic inventory procedures and inventory priced at FIFO.