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Ivanhoe Company had a beginning inventory balance on July 1 of 350 units at a cost of $3.10 each. During the month, the following
Ivanhoe Company had a beginning inventory balance on July 1 of 350 units at a cost of $3.10 each. During the month, the following inventory transactions took place: Purchases Sales Cost per Price per Date Units unit Date Units unit July 10 1,370 $3.30 July 2 300 $6.10 13 700 3.70 11 1,050 6.10 27 570 3.90 28 370 6.60 (a) Calculate the cost of goods available for sale and the number of units of ending inventory. Cost of goods available for sale
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