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Martinez Corporation is a multi-product firm. The following information concerns one of its products, the Trinton: Date Transaction Quantity Price/ Cost Jan. 1 Beginning inventory
Martinez Corporation is a multi-product firm. The following information concerns one of its products, the Trinton:
Date | Transaction | Quantity | Price/ Cost | ||||||||
Jan. | 1 | Beginning inventory | 1,500 | $11 | |||||||
Feb. | 4 | Purchase | 2,390 | 16 | |||||||
Feb. | 20 | Sale | 2,790 | 29 | |||||||
Apr. | 2 | Purchase | 3,460 | 23 | |||||||
Nov. | 4 | Sale | 2,800 | 36 |
Calculate cost of goods sold, assuming Martinez uses a periodic inventory system and weighted average cost formula.
Cost of goods sold | $_______ |
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