Solution-Compute the cost of goods sold for March

Compute the cost of goods sold for March

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Reference no: EM132800294

Question -

Part A - Mabel Company uses the average cost method to account for inventory and has the following activity during the month of March, 2019.

	Units	Unit cost
Beginning inventory	350	$15.00
Purchase #1	650	12.00
Purchase #2	250	10.00

During March, Mabel sold 850 units. Compute the cost of goods sold for March and the COST OF the ending inventory balance at March 31, 2019.

Part B - Mabel Company uses the LIFO cost method to account for inventory and has the following activity during the month of March, 2019.

	Units	Unit cost
Beginning inventory	350	$15.00
Purchase #1	650	12.00
Purchase #2	250	10.00

During March, Mabel sold 850 units. Compute the cost of goods sold for March and the COST OF the ending inventory balance at March 31, 2019.

Reference no: EM132800294

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Compute the cost of goods sold for March

Reference no: EM132800294

Reference no: EM132800294

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