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Pina Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations: Date Explanation Units Unit Cost
Pina Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations:
Date | Explanation | Units | Unit Cost | Total Cost | Balance in Units | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. | 2 | Purchases | 243 | $69 | $16,767 | 243 | ||||||
3 | Purchases | 485 | 96 | 46,560 | 728 | |||||||
10 | Sales | (323 | ) | 405 | ||||||||
15 | Purchases | 935 | 120 | 112,200 | 1,340 | |||||||
25 | Sales | (334 | ) | 1,006 |
Calculate the cost of goods sold and ending inventory using the average cost method. (Round average cost per unit to 2 decimal places, e.g. 1.25. Round intermediate and final answers to 0 decimal places, e.g. 5,125.)
Cost of goods sold | $enter the cost of goods sold in dollars |
---|---|
Ending inventory |
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