Question
Swifty Company had a beginning inventory on January 1 of 200 units of Product 4-18-15 at a cost of $20 per unit. During the year,
Swifty Company had a beginning inventory on January 1 of 200 units of Product 4-18-15 at a cost of $20 per unit. During the year, the following purchases were made.
| Mar. 15 | 430 units | at | $22 | Sept. 4 | 300 units | at | $24 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| July 20 | 220 units | at | $23 | Dec. 2 | 100 units | at | $29 |
1,040 units were sold. Swifty Company uses a periodic inventory system.
Determine the cost of goods available for sale.
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Modern Auditing
Authors: Graham Cosserat
1st Edition
0471810584, 9780471810582
