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How much is cost of goods sold at the end of the year

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Reference no: EM132858960

The following amounts and costs of serving bowls were available for sale by Carl's Pottery during 2021:

Beginning inventory - 20 units at $45

First purchase - 15 units at $50

Second purchase - 40 units at $55

Third purchase - 25 units at $60

Carl's has 20 bowls on hand at the end of the year.

Problem 1: How much is cost of goods sold at the end of the year according to the average cost method?

Reference no: EM132858960

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