the activity for one of the products of Random Creations: ance, 80 units sse $4,00e 40 units $51 40 units e S52 30 units 30 units 45 units

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter10: Inventory
Section: Chapter Questions
Problem 2PA: Trini Company had the following transactions for the month. Calculate the ending inventory dollar...
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Shown below is the activity for one of the products of Random Creations:
January 1 balance, 80 units e $50 $4, eee
Purchases:
January 18:
January 28:
Sales:
January 12:
January 22:
January 31:
40 units e $51
40 units $52
30 units
30 units
45 units
Required:
Compute the January 31 ending inventory and cost of goods sold for January, assuming Random Creations uses
average cost and a periodic inventory system. (Round intermediate calculations to two decimal numbers. Round
your final answers to nearest whole dollar amount.)
tions: On
Accessibility: Investigate
Transcribed Image Text:Shown below is the activity for one of the products of Random Creations: January 1 balance, 80 units e $50 $4, eee Purchases: January 18: January 28: Sales: January 12: January 22: January 31: 40 units e $51 40 units $52 30 units 30 units 45 units Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Random Creations uses average cost and a periodic inventory system. (Round intermediate calculations to two decimal numbers. Round your final answers to nearest whole dollar amount.) tions: On Accessibility: Investigate
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