For Company the following information is given Beginning Inventory 115,000 units Cost = $2,156,250 Produced during...
For Company the following information is given
Beginning Inventory 115,000 units Cost = $2,156,250
Produced during period 140,000 units Cost = $2,915,700
They sold 201,000 units during the year, using the average cost inventory method what is the COGS?
A. $3,768,750
B. $3,997,890
C. $4,186,112
D. $6,577,174
Homework Answers
Total cost = 2,156,250 + 2,915,700 = 5,071,950
Totak units available for sale = 115,000 + 140,000 = 255,000
Average cost per unit = 5,071,950/255,000
= 19.89 per unit
Cost of Goods Sold = 201,000 * 19.89
= 3,997,890
Option B is the answer
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