Refer to PE 7-62. Compute (1) cost of goods sold and (2) ending inventory making an average cost assumption. The company uses a perpetual inventory system.

Data from PE 7-62

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Units Cost per Unit Beginning inventory. 300 $17.50 Purchases: July 15. 900 18.00 1,200 18.25 October 11 Units remaining at year-end: 300 Sales occurred as follows: Units Sold January 16 July 23 November 1. 200 600 1,300 Total . 2,100