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B Young Company uses the periodic Inventory system to account for Inventories. Information related to Young Companys invento
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  • Correct Answer = Option ‘B’ $ 6336

Average Method

Cost of Goods available for sale

Cost of Goods Sold

Ending Inventory

Units

Cost/unit

COG for sale

Units sold

Cost/unit

COGS

Units

Cost/unit

Ending inventory

Beginning Inventory

400

$                10.00

$                        4,000.00

Purchases:

08-Oct

800

$                10.40

$                        8,320.00

16-Oct

600

$                10.80

$                        6,480.00

24-Oct

200

$                11.60

$                        2,320.00

TOTAL

2000

$            10.5600

$                      21,120.00

1400

$          10.5600

$               14,784.00

600

$            10.5600

$            6,336.00 [Answer]

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