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please show me how you solved it as well Novak Inc. uses a periodic inventory system. Its records show the following for the month of
please show me how you solved it as well
Novak Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 73 units were sold. Unit Date Explanation Units Total Cost Cost May 1 Inventory 32 $ 10 $ 320 May 15 Purchase 26 11 286 May 24 Purchase 43 12 516 Total 101 $ 1.122 Calculate the cost of goods sold and the ending inventory at May 31 using the average cost formula. (Round average cost to 3 decimal places, e.g. 5.252 and round final answer to 2 decimal places, e.g 5.25.) Cost of goods sold ta $ Ending inventory $ taStep by Step Solution
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