Text: Calculate sold goods beds provided the following information for 2013: merchandise inventory 1 January 20,000; merchandise inventory 31 December 30,000; selling expense 50,000; delivery expense 18,000; net purchase of sofa bed 265,009; rent expense 15,000; utilities expense 3,000; freight in 15,000; administration expense 64,000; sales revenue 500,000; units sold during the year 2,500 sofas.
Required:
1. Calculate the cost of goods sold. What is the cost per sofa bed sold?
2. Calculate the total period cost.