Assume the following data with regard to inventory for Alexis Company: SE-3

Assuming that the inventory consists of 60 units from the August 8 purchase and 50 units from the purchase of August 22, calculate the cost of ending inventory and cost of goods sold.

Transcribed Image Text:

Aug. 1 Inventory 8 Purchase 22 Purchase Goods available for sale Sale Aug. 15 28 Sale Inventory, Aug. 31 80 units @ $10 per unit 100 units @ $11 per unit 70 units @ $12 per unit 250 units 90 units 50 units 110 units $ 800 1,100 840 $2,740