As of April 30, Northstar counts 8 units of merchandise inventory on hand. Compute ending merchandise inventory and cost of goods sold for Northstar using the LIFO inventory method.
The periodic inventory records of Northstar Sales indicate the following for the month of April:
Ending inventory: 8 units @ $32 = $ 256
Cost of goods available for sale:
Cost of Goods Available for Sale $ 1,562
Less: Ending Merchandise Inventory 256
Cost of Goods Sold $ 1,306
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