Do It$!$

The accounting records of Cullumber Ag$.$ Implements shows the following data.

Beginning inventory $,4,240$ units at $$4=$$$16,960$

Purchases $,6,360$ units at $$3=19,080$

Sales $,7,420$ units at $$12=\frac{0}{\text{\$}36,040}$

Determine the cost of goods sold during the period under a periodic system using average$-$cost$.($Round

weighted$-$average unit cost to $2$ decimal places and final answers to $0$ decimal places.$)$

Step $1$

Ending Inventory

Step $2$

Cost of Goods Sold

Cost of goods available for sale

Less: Ending inventory

Cost of goods sold

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