Question
Netta Shutters has the following inventory information. Nov. 1 Inventory 15 units @ $8.00 8 Purchase 60 units @ $8.30 17 Purchase 30 units @
Netta Shutters has the following inventory information.
| Nov. | 1 |
| Inventory | 15 units @ | $8.00 |
|
| 8 |
| Purchase | 60 units @ | $8.30 |
|
| 17 |
| Purchase | 30 units @ |
| $8.40 |
|
| 25 |
| Purchase | 45 units @ |
|
| $8.80 |
A physical count of merchandise inventory on November 30 reveals that there are 45 units on hand. Assume a periodic inventory system is used. Cost of goods sold (rounded to the nearest dollar) under the average-cost method is
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Financial Accounting The Cornerstone Of Business Decision Making
Authors: Jay S Rich, Jeff Jones, Linda Ann Myers
5th Edition
0357132696, 978-0357132692
