During the year ended 30 June Excelsior Soccer sold 1800 soccer balls at $12.50 each. The entity uses the periodic method of recording inventory. Beginning inventory from 1 July last year amounted to 200 balls at a cost of $1200. Purchases during the year were made in the following order:
580 units @ $6.20
1100 units @ $6.80
300 units @ $7.00
100 units @ $7.10

Question

Quizplus · Accepted Answer

The Answer of During the year ended 30 June Excelsior Soccer sold 1800 soccer balls at $12.50 each. The entity uses the periodic method of recording inventory. Beginning inventory from 1 July last year amounted to 200 balls at a cost of $1200. Purchases during the year were made in the following order:
580 units @ $6.20
1100 units @ $6.80
300 units @ $7.00
100 units @ $7.10

During the Year Ended 30 June Excelsior Soccer Sold 1800