Question: Problem IV. Using Average Method calculate the Cost of Goods Sold (15 pts.): 1/1/98 beginning inventory 3,000 units cost $15 cach 1/14/98 purchased 1.000 units

Problem IV. Using Average Method calculate the Cost of Goods Sold

Problem IV. Using Average Method calculate the Cost of Goods Sold (15 pts.): 1/1/98 beginning inventory 3,000 units cost $15 cach 1/14/98 purchased 1.000 units cost $18 each 1/18/98 purchased 1,500 units cost $21 each 1/25/98 purchased 2,000 units cost $23 each at 1/31/98 we have 2,600 unit remaining in inventory. (if needed round to the cents, do not round to the dollar!!)

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