The Periodic Inventory Records of Northstar Sales Indicate the Following

Essay

The periodic inventory records of Northstar Sales indicate the following for the month of April:
$\begin{array}{|r|c|c|}\hline \text { Apr. }1&\begin{array}{l}\text { Beginning merchandise } \\\text { inventory }\end{array} & 15 \text { units@\$32 each } \\\hline 7& \text { Purchase } & 7 \text { units @\$34 each } \\\hline 18& \text { Purchase } & 12 \text { units @ \$37 each } \\\hline 26& \text { Purchase } & 10 \text { units@\$40 each } \\\hline\end{array}$ 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.