Stamp Inc. has a beginning inventory of 100 units @ $15.00 per unit. The following...
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Stamp Inc. has a beginning inventory of 100 units @ $15.00 per unit. The following information further relates to the transactions concerning Houston Corporation in its first year: Transaction Units 2-Jan Purchase 100 @ 20.00 8-Jan Sale 115 @ 50.00 23-Jan Purchase 75 @ 25.00 29-Jan Sale 130 @ 50.00 Assuming Houston uses the periodic weighted average costing, what amount should Houston report as cost of goods sold?
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