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Gotiable sells straw hats for $21 each. The April inventory purchases are summarized below. Gotiable sold 70 hats at a hat festival on April 28.
Gotiable sells straw hats for $21 each. The April inventory purchases are summarized below. Gotiable sold 70 hats at a hat festival on April 28. Units Cost each Dollars Beg. Inv. 105 420 April 2 15 5 75 April 14 20 6 120 April 23 80 7 560 Assume that Gotlable uses the average cost method for inventory costing. What is the average cost of one hat? (Round to the nearest penny (2 decimal points)). What will be the dollar value of the inventory on the April 30th balance Sheet? (Round to the nearest dollar) What will gotiable report as Gross margin for the hats for the month of April? (Round to the nearest dollar) CHECK
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