Question 1

If a merchandising company has a beginning inventory of $403,000 and an ending inventory of $207,000, and the company purchased $1,605,000 of inventory during the month, what is the companys cost of goods sold?

The Accounting Club wants to have a party for its members. The cost of renting space is $1,530, and the cost of refreshments will be $22 per person.

Required:

1-a. What is the total cost if 100 people attend?

1-b. What is the average cost? (Round your answer to 2 decimal places.)

2-a. What is the total cost if 200 people attend?

2-b. What is the average cost? (Round your answer to 2 decimal places.)