Sully Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Sully Company sold a total of 18,500 units during the year. Read the requirements. Requirement 1. Using the average-cost method, compute the cost goods sold and ending inventory for the year. (Round the average cost per unit to the nearest cent.) Average-cost method cost of goods sold = Average-cost method ending inventory = Data table Beginning inventory Purchases during year Print - X Quantity Unit Cost 4,000 $ 8.00 16,000 $ 10.00 Done
Sully Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Sully Company sold a total of 18,500 units during the year. Read the requirements. Requirement 1. Using the average-cost method, compute the cost goods sold and ending inventory for the year. (Round the average cost per unit to the nearest cent.) Average-cost method cost of goods sold = Average-cost method ending inventory = Data table Beginning inventory Purchases during year Print - X Quantity Unit Cost 4,000 $ 8.00 16,000 $ 10.00 Done
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 67P
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