Metlock, Inc. markets CDs of numerous performing artists. At the beginning of March, Metlock had in...
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Metlock, Inc. markets CDs of numerous performing artists. At the beginning of March, Metlock had in beginning inventory 2,500 CDs with a unit cost of $8. During March, Metlock made the following purchases of CDs. 4,800 @ $11 March 5 March 13 1,850 @ 4,000 @ $9 $10 March 21 March 26 1,850 @ $12 During March 11,900 units were sold. Metlock uses a periodic inventory system. Determine the cost of goods available for sale. The cost of goods available for sale $ Calculate Average Cost. (Round answer to 3 decimal places, e.g. 5.125.) Average Cost $ Metlock, Inc. markets CDs of numerous performing artists. At the beginning of March, Metlock had in beginning inventory 2,500 CDs with a unit cost of $8. During March, Metlock made the following purchases of CDs. 4,800 @ $11 March 5 March 13 1,850 @ 4,000 @ $9 $10 March 21 March 26 1,850 @ $12 During March 11,900 units were sold. Metlock uses a periodic inventory system. Determine the cost of goods available for sale. The cost of goods available for sale $ Calculate Average Cost. (Round answer to 3 decimal places, e.g. 5.125.) Average Cost $
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Answer rating: 100% (QA)
Answer A Cost of goods available for sale 151650 Explanation Opening inventory 25008 20000 Add Purchases March5 18509 16650 March 21 480011 52800 Marc... View the full answer
Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118096895
6th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Posted Date:
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