Question
Flounder Corporation opened a new store on January 1, 2021. During 2021, the first year of operations, the following purchases and sales of inventory
Flounder Corporation opened a new store on January 1, 2021. During 2021, the first year of operations, the following purchases and sales of inventory were made: Purchases Sales Date Units Price per Cost per unit Date Units unit Jan. 5 11 $1,100 July 4 13. $2,000 June 11 11 1.250 Dec. 291 35 2.000 Oct. 18 15 1,360 Dec. 20 20 1.550 Calculate the cost of goods available for sale and the number of units of ending inventory. Cost of goods available for sale $ Number of units of ending inventory units
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