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Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particula product in 2023 as follows: Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold July 28 Purchased Oct. 3 Purchased Oct. 5 Sold 130 units @$ 6.70 $ 60 units @ $15.20 = 270 units @$ 6.00 = 120 units @ $15.20 520 units @$ 5.80 = 470 units @$ 5.70 = 610 units@ $15.20- 871.00 912.00 1,620.00 1,824.00 3,016.00 2,679.00 9,272.00 Assume that Car Armour specifically sold the following units:

Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particula product in 2023 as follows: Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold July 28 Purchased Oct. 3 Purchased Oct. 5 Sold 130 units @$ 6.70 $ 60 units @ $15.20 = 270 units @$ 6.00 = 120 units @ $15.20 520 units @$ 5.80 = 470 units @$ 5.70 = 610 units@ $15.20- 871.00 912.00 1,620.00 1,824.00 3,016.00 2,679.00 9,272.00 Assume that Car Armour specifically sold the following units:

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2023 as follows: Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Mar. 15 Sold Purchased July 28 Purchased Oct. 3 Purchased Oct. 5 Sold 130 units @$ 6.70 =$ 60 units @ $15.20 270 units @$ 6.00 = 120 units @ $15.20 = 520 units @ $ 5.80 = 470 units @$ 5.70 = 610 units @ $15.20 = Assume that Car Armour specifically sold the following units: Jan. 10: 60 units from beginning inventory Mar. 15: 30 units from beginning inventory, and i units from the March 7 purchase 90 Oct. 5: 155 units from the July 28 purchase, and 455 units from the October 3 purchase 871.00 912.00 1,620.00 1,824.00 3,016.00 2,679.00 9,272.00 Ending inventory Cost of goods sold Calculate cost to be assigned to ending inventory and cost of goods sold. (Round your final answers to 2 decimal places.)
Transcribed Image Text:Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2023 as follows: Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Mar. 15 Sold Purchased July 28 Purchased Oct. 3 Purchased Oct. 5 Sold 130 units @$ 6.70 =$ 60 units @ $15.20 270 units @$ 6.00 = 120 units @ $15.20 = 520 units @ $ 5.80 = 470 units @$ 5.70 = 610 units @ $15.20 = Assume that Car Armour specifically sold the following units: Jan. 10: 60 units from beginning inventory Mar. 15: 30 units from beginning inventory, and i units from the March 7 purchase 90 Oct. 5: 155 units from the July 28 purchase, and 455 units from the October 3 purchase 871.00 912.00 1,620.00 1,824.00 3,016.00 2,679.00 9,272.00 Ending inventory Cost of goods sold Calculate cost to be assigned to ending inventory and cost of goods sold. (Round your final answers to 2 decimal places.)
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