Chapter 6, Problem 32CE

( Appendix 6B) Inventory Costing Methods: Periodic Average Cost

Refer to the information for Filimonov Inc. (p. 337) and assume that the company uses a periodic inventory system.

Required:

Calculate the cost of goods sold and the cost of ending inventory using the average cost method. ( Note: Use four decimal places for per-unit calculations and round all other numbers to the nearest dollar.)