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Your answer is correct. Street Electronics Co. uses a perpetual inventory system. The company's beginning inventory of a particular style of large screen celevisions and
Your answer is correct. Street Electronics Co. uses a perpetual inventory system. The company's beginning inventory of a particular style of large screen celevisions and its purchases during the month of January were as follows: On January 15, Street Electronics Co. held its annual Large Screen TV Sale Day. On this day, 55 of these televisions were sold. The remaining 15 units remain in inventory at January 31. Assuming that Street Electronics uses the average cost formula, the cost of goods sold to be recorded at January 15 is $2,615.$11,000.$11,385.$11,315
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