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Guess Clothing Store sells jeans.  During January 2022, its inventory records for one brand of designer jeans were as follows: Beginning Inventory                   10 pairs  @  P20   = P200 January 6 Purchase                      4 pairs  @   25    =  100 January 10 Sale                            5 pairs January 15 Purchase                    7 pairs   @  30    =   210 January 20 Sale                          10 pairs January 25 Purchase                    4 pairs    @ 30     =  120  How much is the Cost of Goods Sold using Average Cost Periodic?   a. 378 b. 358 c. 265 d. 236

Guess Clothing Store sells jeans.  During January 2022, its inventory records for one brand of designer jeans were as follows: Beginning Inventory                   10 pairs  @  P20   = P200 January 6 Purchase                      4 pairs  @   25    =  100 January 10 Sale                            5 pairs January 15 Purchase                    7 pairs   @  30    =   210 January 20 Sale                          10 pairs January 25 Purchase                    4 pairs    @ 30     =  120  How much is the Cost of Goods Sold using Average Cost Periodic?   a. 378 b. 358 c. 265 d. 236

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Guess Clothing Store sells jeans.  During January 2022, its inventory records for one brand of designer jeans were as follows:

Beginning Inventory                   10 pairs  @  P20   = P200
January 6 Purchase                      4 pairs  @   25    =  100
January 10 Sale                            5 pairs
January 15 Purchase                    7 pairs   @  30    =   210
January 20 Sale                          10 pairs
January 25 Purchase                    4 pairs    @ 30     =  120

 How much is the Cost of Goods Sold using Average Cost Periodic?
 
a. 378
b. 358
c. 265
d. 236
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