Novak Company Inc. had a beginning inventory of 104 units of Product RST at a...
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Accounting
Novak Company Inc. had a beginning inventory of 104 units of Product RST at a cost of $6 per unit. During the year, purchases were:
| Feb. 20 | 624 | units at | $7 | Aug. 12 | 416 | units at | $9 | |||
|---|---|---|---|---|---|---|---|---|---|---|
| May 5 | 520 | units at | $8 | Dec. 8 | 208 | units at | $10 |
Novak Company uses a periodic inventory system. Sales totaled 1,560 units.
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