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Concord Shutters has the following inventory information. Nov.1 Inventory 60 units @ $5.00 8 Purchase 120 units @ $6.00 17 Purchase 60 units @ $7.00
Concord Shutters has the following inventory information.
Nov.1 Inventory 60 units @ $5.00
8 Purchase 120 units @ $6.00
17 Purchase 60 units @ $7.00
25 Purchase 60 units @ $8.00
A physical count of merchandise inventory on November 30 reveals that there are 50 units on hand. Assume a periodic inventory system is used. Cost of goods sold (rounded to the nearest dollar) under the average-cost method is
a- $1606.0.
b- $1622.0.
c- $1568.0.
d-$1600.0.
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