Calculate the cost of goods sold

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Question - The Accessories Outlet sells various models of designer handbags. The following information relates to a special category of Coach purses.

Date

Transaction

Quantity

Price/Cost

Jan 1

Beginning inventory

650

$51

Apr 4

Purchase

700

$55

May 20

Sale

1,025

$110

June 2

Purchase

1,850

$66

July 4

Sale

1,300

$115

Required - Calculate the Cost Of Goods Sold assuming the company uses a perpetual system and moving average cost formula.

Reference no: EM133088565

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