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Using periodic costing procedures, compute the cost of the December 31 inventory Number Cost Total of Units Per Unit Cost Inventory, Jan. 1 12 $299
Using periodic costing procedures, compute the cost of the December 31 inventory
| Number | Cost | Total | |
| of Units | Per Unit | Cost | |
| Inventory, Jan. 1 | 12 | $299 | $3,588 |
| First purchase (May 12) | 15 | 306 | 4,590 |
| Second Purchase (July 9) | 21 | 308 | 6,468 |
| Third purchase (Oct. 4) | 8 | 315 | 2,520 |
| Fourth purchase (Dec. 18) | 17 | 320 | 5,440 |
| Goods available for sale | 73 | $22,606 | |
| Units sold during the year | 51 | ||
| Inventory, Dec. 31 | 22 |
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Financial and Managerial Accounting the basis for business decisions
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
16th edition
0077664078, 978-0077664077, 78111048, 978-0078111044
