Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN: 9781947172685
Author: OpenStax
Publisher: OpenStax College
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A3

Date of purchase
Units
purchased
Find the cost of goods sold if sales total $78,857 for the inventory table shown below.
Cost per
Retail price Total retail
Total
unit
cost
per unit
value
Beginning inventory
41
$860
$35,260
$985
$40,385
February 5
20
$1,770
$35,400
$2,105
$42,100
February 19
17
$975
$16,575
$2,016
$34,272
March 3
27
$490
$13,230
$590
$15,930
Goods available for
105
$100,465
$132,687
sale
Units sold
83
Ending inventory
22
(Round to the nearest cent as needed.)
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Transcribed Image Text:Date of purchase Units purchased Find the cost of goods sold if sales total $78,857 for the inventory table shown below. Cost per Retail price Total retail Total unit cost per unit value Beginning inventory 41 $860 $35,260 $985 $40,385 February 5 20 $1,770 $35,400 $2,105 $42,100 February 19 17 $975 $16,575 $2,016 $34,272 March 3 27 $490 $13,230 $590 $15,930 Goods available for 105 $100,465 $132,687 sale Units sold 83 Ending inventory 22 (Round to the nearest cent as needed.)
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