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Vaughn Shutters has the following inventory information. Nov. 1 Inventory 60 units @ $5.00 8 Purchase 120 units @ $5.00 17 Purchase 40 units @
Vaughn Shutters has the following inventory information.
Nov. | 1 | Inventory | 60 units @ $5.00 |
8 | Purchase | 120 units @ $5.00 | |
17 | Purchase | 40 units @ $6.00 | |
25 | Purchase | 80 units @ $6.00 |
A physical count of merchandise inventory on November 30 reveals that there are 110 units on hand. Assume a periodic inventory system is used. Cost of goods sold (rounded to the nearest dollar) under the average-cost method is
1. $914.0.
2. $1015.0.
3. $1026.0.
4. $968.0.
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