Amsterdam Company uses a periodic inventory system

Amsterdam Company uses a periodic inventory system. For April, when the company sold 600 units, the following information is available. Compute the April 30 inventory and the April cost of goods sold using the average cost method.

                                                Units              Unit Cost                  Total Cost

April 1 Inventory                   250                 $10                             $2,500

April 15 purchases              400                 12                                4,800

April 23 Purchases              350                 13                                4,550

                                            1,000                                                  11,850          

Weighted average cost per unit $11850/1000 =             $11.85

Ending inventory 400 X $11.85 =                                       $4,740

Cost of goods available for sale                                        $11,850

Deduct ending inventory                                                    4,740

Cost of goods sold (600 X $11.85)                                    $7,110