Jones

Distributors purchases inventory in crates of merchandise. Assume the company began February

with an inventory of 40

units that cost $315

each. During the month, the company engaged in the following business transactions:

Mar. 10 15 22 29 31 Purchased 36 units on account at $330. Sold 44 units on account at $620. Purchased 74 units on account at $360. Sold 83 units on account at $720. Reported monthly operating expenses of $16,000. The company paid one-third with cash, and the rest was recorded on account. Paid $33,000 of the Accounts Payable balance. 31 UNITS Purchases Cost of Goods Sold QTY Unit Cost Tot Cost Inventory on Hand QTY Unit Cost Tot. Cost QTY Unit Cost Tot. Cost Beginning Mar 10 15 22 29 Ending