Assume that three identical units of merchandisewere purchased during October, as follows: ...
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Accounting
Assume that three identical units of merchandisewere purchased during October, as follows:
Units | Cost | |||
October | 5 | Purchase | 1 | $5 |
12 | Purchase | 1 | 13 | |
28 | Purchase | 1 | 15 | |
Total | 3 | $33 |
One unit is sold on October 31 for $28. Using the table provided, determinecost of goods sold under the average cost method.
a. $22
b. $17
c. $13
d. $11
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