As majority of the compression algorithms are implementations for CPU architecture, the primary focus of our work was to exploit the opportunities of GPU parallelism in audio compression. This paper presents an implementation of Apple Lossless Audio Codec (ALAC) algorithm by using NVIDIA GPUs Compute Unified Device Architecture (CUDA) Framework. The core idea was to identify the areas where data parallelism could be applied and parallel programming model CUDA could be used to execute the identified parallel components on Single Instruction Multiple Thread (SIMT) model of CUDA. The dataset was retrieved from European Broadcasting Union, Sound Quality Assessment Material (SQAM). Faster execution of the algorithm led to execution time reduction when applied to audio coding for large audios. This paper also presents the reduction of power usage due to running the parallel components on GPU. Experimental results reveal that we achieve about 80-90% speedup through CUDA on the identified components over its CPU implementation while saving CPU power consumption.