Harding Systems, Inc. uses a periodic inventory system. The acquisition of a particular product during the year are show

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Harding Systems Inc Uses A Periodic Inventory System The Acquisition Of A Particular Product During The Year Are Show 1 (71.2 KiB) Viewed 13 times

Harding Systems, Inc. uses a periodic inventory system. The acquisition of a particular product during the year are shown as follows: Jan. 1 beginning inventory was 1,100 units at $7.25 each; Feb. 7 purchased 1,450 units at $7.50 each; July 10 purchased 1,600 units at $8.00 each; Nov. 25 purchased 1,000 units at $8.52 each. At December 31 a physical count determined that ending inventory consisted of 1,500 units. Compute the cost of goods sold for the current year based on the average-cost method of inventory valuation.