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Crane Company's inventory records show the following data for the month of September: Units Unit Cost Inventory, September 1 200 $3.00 Purchases: September 8 450
Crane Company's inventory records show the following data for the month of September: Units Unit Cost Inventory, September 1 200 $3.00 Purchases: September 8 450 4.00 September 18 350 5.00 A physical inventory on September 30 shows 300 units on hand. Calculate the value of the ending inventory and cost of goods sold if the company uses average-cost inventory costing and a periodic inventory system. (Round cost per unit to 2 decimal places and ending inventory and cost of goods sold to the nearest dollar.) Ending inventory Cost of goods sold $
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