Available for sale |
Cost of goods sold |
Ending inventory |
|||||||
Date |
Description |
Units |
Unit cost |
Units |
Unit cost |
Total cost |
Units |
Unit cost |
Total cost |
Jan. 1 |
Beginning inventory |
180 | 73 | 13,140 | |||||
March 10 |
Sale |
60 | 73 | 4,380 | 120 | 73 | 8,760 | ||
June 10 | 540 | 78 | 120 | 73 | 8,760 | ||||
540 | 78 | 42,120 | |||||||
Oct. 30 |
sale |
150 | 78 | 11,700 | 120 | 73 | 8,760 | ||
390 | 78 | 30,420 |
Cost of ending inventory = 8,760 + 30,420
= $39,180
Correction option is (D)
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