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Novak Company uses a periodic inventory system

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Novak Company uses a periodic inventory system. For April, when the company sold 450 units, the following information is available.

Date Units Unit Cost Total Cost

April 1 inventory 320 $35 $11,200

April 15 purchase 430 $42 $18,060

April 23 purchase 250 $46 $11,500

1,000 $40,760

Compute the April 30 inventory and the April cost of goods sold using the LIFO method.

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