Question 3Assume a company had the following inventory information:Beginning Inventory: 90 units @ $4.00 cost per unitPurchases: 180 units @ $7.00 cost per unitIf the company then sold 180 units, calculate the dollar amount of COGS under average costmethod.

Under average cost method, average cost per unit is arrived at by dividing Total cost of units…

sume a company had the following inventory information: eginning Inventory: 90 units @ $4.00 cost per unit urchases: 180 units @ $7.00 cost per unit the company then sold 180 units, calculate the dollar amount of COGS under average c ethod.

sume a company had the following inventory information: eginning Inventory: 90 units @ $4.00 cost per unit urchases: 180 units @ $7.00 cost per unit the company then sold 180 units, calculate the dollar amount of COGS under average c ethod.

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter5: Inventories And Cost Of Goods Sold

Section: Chapter Questions

Problem 5.23MCE

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