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The beginning inventory at Midnight Supplies and data on purchases and sales for a three month period ending March 31 are as follows: Date
The beginning inventory at Midnight Supplies and data on purchases and sales for a three month period ending March 31 are as follows: Date Transaction Number of Units Per Unit Total Jan. 1 Inventory 2,500 $70.00 $175,000 10 Purchase 8,000 78.00 624,000 28 Sale 3,800 140.00 532,000 30 Feb. 85 Sale 1,250 140.00 175,000 Sale 500 140.00 70,000 10 Purchase 17,000 80.00 1,360,000 16 Sale 9,100 145.00 1,319,500 28 Sale 8,700 145.00 1,261,500 Mar 5 Purchase 14,300 81.60 1,166,880 14 Sale 9,800 145.00 1,421,000 25 Purchase 3,000 82.00 246,000 30 Sale 7,900 145.00 1,145,500
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