3 4 5 Jumpy Inc. uses a perpetual inventory system. Please answer the following questions related to the information provided for the month's transactions. Assume that Jumpy uses the average cost method. 6 7 8 a. Average Cost: 9 Purchases Sales 10 Date Units Unit Cost Units Unit Price 11 1-May 110 $ 190.00 12 6-May 140 $220.00 13 11-May 200 $ 350.00 14 14-May 80 $ 230.00 15 21-May 100 $ 400.00 16 27-May 50 $250.00 17 18 19 REQUIRED: 20 You can organize your answers below, then PLEASE TRANSFER your final answers 21 to the exam. 22 23 1. What is the Cost of Goods Sold for the month using the 24 Average Cost Method? (1 mark) 25 26 (use 2 decimal places) 27 AVG Cost Question Copy of question New