Question: Crane uses the periodic inventory system. For the current month, the beginning inventory consisted of 7400 units that cost 511 each. During the month, the

Crane uses the periodic inventory system. For the current month, the

Crane uses the periodic inventory system. For the current month, the beginning inventory consisted of 7400 units that cost 511 each. During the month, the company made two purchases: 3100 units at 512 each and 12200 units at $12.50 each. Crane also sold 12700 units during the month. If the average-cost method is used, what is the amount of cost of goods sold for the month? (Round average cost per unit to 2 decimal places, eg. 148.) $146100 $151672. $152400. $158500

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