Martinez Furniture Ltd Uses A Perpetual Inventory System And Has A Beginning Inventory As At June 1 Of 490 Bookcases 1 (26.82 KiB) Viewed 16 times
Martinez Furniture Ltd Uses A Perpetual Inventory System And Has A Beginning Inventory As At June 1 Of 490 Bookcases 2 (28.51 KiB) Viewed 16 times
Martinez Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1, of 490 bookcases at a cost of $126 each. During June, the company had the following purchases and sales of bookcases: Date June (a) 6 10 14 16 26 Purchases Units 1,210 1,850 1,020 Unit cost $128 129 130 Units 1,050 1.520 Sales Unit price $206 211
(a) Your answer is incorrect. Determine the cost of goods sold and the cost of the ending inventory using the average cost formula. (Use unrounded numbers for average cost calculations. Round answers to 2 decimal places, eg 5.52.) Cost of goods sold Cost of the ending inventory $ eTextbook and Media $ Save for Later 278,495 309,375 Attempts: 1 of 3 used Submit Answer
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