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
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?
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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