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ACME Corp has the following information about purchases and sales during the year, Assume ACME uses a periodic system and assigns costs to inventory using

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ACME Corp has the following information about purchases and sales during the year, Assume ACME uses a periodic system and assigns costs to inventory using the average-cost method. Beginning Inventory 300 units$8- $13 $2,400 $15,400 ?2 Jan. 1 July 1 Total Available Total Sales Dec.31 1.000 units e 1,300 units 575 units 725 units Ending Inventory Using average-cost method, compute (1) Ending Inventory (2) Cost of Goods Sold

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