Checkers uses the periodic inventory system.For the current month, the beginning inventory consisted of 1,200 units that cost $12 each.During the month, the company made two purchases: 500 units at $13 each and 2,000 units at $13.50 each.Checkers also sold 2,150 units during the month.Using the average cost method, what is the amount of cost of goods sold for the month?

Question

Quizplus · Accepted Answer

The average cost per unit is $13.25. The cost of goods sold is $27,843.

Checkers Uses the Periodic Inventory System