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1 Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in
1 Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2020 as follows: 20 points Jan. 1 Beginning inventory 110 units @ $ 7.00 $ 770 Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold 80 units @ $15.50 300 units @ $ 6.30 130 units @ $15.50 1,240 = 1,890 2,015 eBook July 28 Purchased Oct. 3 Purchased Print Oct. 5 Sold 550 units @ $ 6.10 500 units @ $ 6.00 670 units @ $15.50 = 3,355 3,000 10,385 References Assume that Car Armour specifically sold the following units: Jan. 10: 80 units from beginning inventory Mar. 15: 10 units from beginning inventory, and 120 units from the March 7 purchase Oct. 5: 200 units from the July 28 purchase, and 470 units from the October 3 purchase Calculate cost to be assigned to ending inventory and cost of goods sold. (Round your final answers to 2 decimal places.) Ending inventory Cost of goods sold Check my
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