If the cost of goods available for sale equals $116,029, calculate the cost of goods sold using the table below. Cost per unit Number of units on hand Total cost $860 8 $1760 10 $945 8 $480 6 32 Ending inventory The cost of goods sold is S $6,880 $17,600 $7,560 $2,880 $34,920 ***

If the cost of goods available for sale equals $116,029, calculate the cost of goods sold using the table below. Cost per unit Number of units on hand Total cost $860 8 $1760 10 $945 8 $480 6 32 Ending inventory The cost of goods sold is S $6,880 $17,600 $7,560 $2,880 $34,920 ***

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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Question

If the cost of goods available for sale equals $116,029, calculate the cost of goods sold using the table below.
Cost per unit
Number of units on hand
Total cost
$860
8
$1760
10
$945
8
6
32
$480
Ending inventory
The cost of goods sold is S
$6,880
$17,600
$7,560
$2,880
$34,920
***

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