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Determine the cost assigned to the cost of goods sold

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Question - XYZ Company made purchases of a particular product in the month ended Sene 30, 2000 as follows:

Sene 1, Beginning inventory 200 units @$ 10

Sene 14, Purchased 350 units @$ 15

Sene 20, Purchased 500 Units @$ 20

Sene 26, Purchased 700 Units @ $ 25

XYZ Company made sales on the following dates at $ 40 per Unit:

Sene 10, 190 Units

Sene 15, 240 Units

Sene 22, 400 Units

Total Sales 830 Units

Required - XYZ uses a perpetual system. Determine the cost assigned to the cost of goods sold, end inventory, and the gross profit amount?

Reference no: EM132607490

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