A company starts the year with 4 bathtubs at a cost of $100 each. They sell three and then buy three more at $120 each. Finally, they sell two of these and then buy two more at $121 each. What is the cost of goods sold for the period if a moving average system is applied?

A company counts its inventory and arrives at a current total of $167,000. The company accountant fears that some merchandise has been stolen and seeks to estimate the amount of this loss. Sales for the period have been $600,000. Gross profit is set by the company at a standard 40 percent of the sales price. According to the ledger balances, inventory on the first day of the year was $150,000 and purchases of $390,000 have been made during the period. What is the best estimate of any theft that has occurred ?