Calculate cost of goods sold on an average-cost basis

Reference no: EM13824923

Problem-

Assuming a perpetual inventory system is used, use the following information to calculate cost of goods sold on an average-cost basis.

1		Beginning inventory		50 units @ $22
	9		Purchases		50 units @ $24
	17		Sales		25 units
22		Purchases		75 units @ $27
27		Sales		40 units

Additional information-

This problem belongs to Accounting and calculates cost of goods sold on an average-cost basis.

Reference no: EM13824923

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