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please show all work and calculations. will leave a thumbs up for clear and correct answer. thank you Flounder Limited uses a perpetual inventory system.
please show all work and calculations. will leave a thumbs up for clear and correct answer. thank you
Flounder Limited uses a perpetual inventory system. The inventory records show the following data forits first month of operations: Date Explanation Units Unit Cost Total Cost Balance in Units Aug. 2 Purchases 237 $71 $16,827 237 3 Purchases 524 105 55,020 761 10 Sales (307) 454 15 Purchases 938 122 114,436 1,392 25 Sales (319) 1,073 (b) Your answer is incorrect Calculate the cost of goods sold and ending inventory using the average cost method. (Round average cost per unit to 2 decimal places, es. 1.25. Round intermediate and final answers to decimal places, eg. 5,125.) Cost of goods sold $ Ending inventory $ Step by Step Solution
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