Question
Busy Bee Construction Co. uses a perpetual inventory system and started operations on the first of the month. Please answer the following questions related
Busy Bee Construction Co. uses a perpetual inventory system and started operations on the first of the month. Please answer the following questions related to the information provided for the month's transactions. Assume that the Company uses the Average Cost method and does not expect any returns. You may use the following spreadsheet to prepare your calculations:1. Weighted Avg. Busy Bee Construction Co_template.xlsx Your instructor will not mark the spreadsheet. Put your final answers in the question below. Round your final answers to the nearest dollar. Purchases Sales Date Units Unit Cost Units Unit Price July 1 250 $ 3.50 July 3 July 4 100 $ 5.00 154 $ 10.00 July 10 40 $ 4.50 July 26 July 28 July 31 79 S 11.00 200 $ 3.25 100 $ 11.50 What is the Cost of Goods Sold for the month using the Average Cost method? (1 mark) $ A What is the ending inventory amount that would appear on the Company's Statement of Financial Position (Balance Sheet)? (1 mark) $ A/
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