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Evaluate cost of goods sold during the period

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Reference no: EM132753448

The accounting records of Blossom Company show the following data.

Beginning inventory 5,000 units at $5

Purchases 7,500 units at $7Sales 9,900 units at$10

Problem 1: Calculate average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)

Problem 2: Determine cost of goods sold during the period under a periodic inventory system using the FIFO method, the LIFO method, and the average-cost method.

Reference no: EM132753448

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