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What cost of goods sold under the average-cost method

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Reference no: EM132494875

A company has the following data related to an item of inventory:

Inventory, November 1 500 units @ £18.20
Purchase, November 10 2,400 units @ £18.75
Purchase, November 23 1,800 units @ £20.50
Inventory, November 30 1,200 units

Question 1: Assume a periodic inventory system is used. Cost of goods sold under the average-cost method is

Option 1: £73,574

Option 2: £67,765

Option 3: £67,025

Option 4: £69,160

Reference no: EM132494875

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