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All information is given Assuming that CNB uses a periodic Inventory system and employs the average cost method, determine cost of goods sold for Septemba
All information is given
Assuming that CNB uses a periodic Inventory system and employs the average cost method, determine cost of goods sold for Septemba inventory. (Round cost per unit to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold - Average Cost Ending Inventory - Average Cost Cost of Average cost Average Goods # of units Average # of units Unit Cost Cost of # of units Cost per Available for in ending Cost per Ending sold Unit Goods Sold Inventory Sale Inventory unit Beginning Inventory 8,000 $ 9.00 $ 72,000 Purchases: 9/7 6,000 $ 9.70 58,200 9/25 10,000 $ 9.90 99,000 Total 24,000 $ 229.200 Step by Step Solution
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