Question
Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 690 units @ $60 $41,400 Purchases: January 10:690 units
Shown below is activity for one of the products of Denver Office Equipment:
January 1 balance, 690 units @ $60 $41,400
Purchases:
January 10:690 units @ $64
January 20:1,220 units @ $66
Sales:January 12:1,000 units
January 28:800 units
Required:
Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses average cost and a perpetual inventory system.
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Financial Accounting Information for Decisions
Authors: John Wild
7th edition
78025893, 978-0078025891
