Answered step by step
Verified Expert Solution
Question
1 Approved Answer
RJ Corporation has provided the following information about one of its inventory items: Date Transaction Number of Units Cost per Unit 1/1 Beginning Inventory 445
RJ Corporation has provided the following information about one of its inventory items:
Date | Transaction | Number of Units | Cost per Unit | |||||
1/1 | Beginning Inventory | 445 | $ | 3,195 | ||||
6/6 | Purchase | 785 | $ | 3,790 | ||||
9/10 | Purchase | 1,155 | $ | 4,190 | ||||
11/15 | Purchase | 810 | $ | 4,295 | ||||
|
During the year, RJ sold 3,190 units.
What was cost of goods sold using the average cost flow assumption under a periodic inventory system? (Do not round intermediate calculations.)
$12,695,426.
$12,693,850.
$12,699,350.
$12,735,426.
RJ Corporation has provided the following information about one of its inventory items: Number of Date 11 Transaction Beginning Inventory Purchase Purchase Purchase Cost per Unit $ 3,195 $37901 6/6 9/10 11/15 During the year, RJ sold 3,190 units. What was cost of goods sold using the average cost flow assumption under a periodic Inventory system? (Do not round Intermediate calculations.) O $12,695,426 O $12,693,850 $12,699,350 $12,735,426 OStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started