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Assume that Concord Company has the following transactions in its first month of operations. Sold Date Feb. 1 Feb. 10 Feb 21 Feb, 28 Purchases
Assume that Concord Company has the following transactions in its first month of operations. Sold Date Feb. 1 Feb. 10 Feb 21 Feb, 28 Purchases 1,820 $3.00 5.460 @ $3.40 Balance 1.820 units 7.280 units 3,640 units 5,460 units 3,640 units 1,820 $3.75 Concord uses a perpetual inventory system Compute cost of goods sold and ending inventory at February 28, assuming that Concord uses the moving average cost flow assumption. (Round average cost per unit to 2 decimal places, eg. 1.28 and final answers to decimal places, es,5,125) Cost of goods sold $ Ending inventory S
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