Marigold Shutters has the following inventory information. Nov. 1 Inventory 50 units @ $4.00 8 Purchase 150 units @ $4.00 17 Purchase 50 units @ $8.00 25 Purchase 100 units @ $9.00 A physical count of merchandise inventory on November 30 reveals that there are 50 units on hand. Assume a periodic inventory system is used. Cost of goods sold (rounded to the nearest dollar) under the average-cost method is ? $1806. ? $1768. $1822. $1800.
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- November 1: Beginning inventory of 50 units @ $4.00 = $200.00 - November 8: Purchase of 150 units @ $4.00 = $600.00 - November 17: Purchase of 50 units @ $8.00 = $400.00 - November 25: Purchase of 100 units @ $9.00 = $900.00 - Total goods available: 350 units Show more…
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