Shown below is the activity for one of the products of Random Creations: ...
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Accounting
Shown below is the activity for one of the products of Random Creations:
| January 1 balance, 80 units @ $50 $4,000 | |
| Purchases: | |
| January 18: | 40 units @ $51 |
| January 28: | 40 units @ $52 |
| Sales: | |
| January 12: | 30 units |
| January 22: | 30 units |
| January 31: | 45 units |
Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Random Creations uses average cost and a periodic inventory system. (Round intermediate calculations to two decimal numbers. Round your final answers to nearest whole dollar amount.) Ending Inventory:
Cost of Goods Sold:
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