A company uses periodic inventory in connection with the average-cost method. The company began the year with zero inventory balance. They had the following transactions during the year: At the end of the year, they counted the inventory and found 55 units remaining. How much was the Cost of goods sold for the year? (Please round to the nearest whole dollar.)

Question

A company uses periodic inventory in connection with the average-cost method. The company began the year with zero inventory balance. They had the following transactions during the year:  At the end of the year, they counted the inventory and found 55 units remaining. How much was the Cost of goods sold for the year? (Please round to the nearest whole dollar.)

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The Answer of A company uses periodic inventory in connection with the average-cost method. The company began the year with zero inventory balance. They had the following transactions during the year:  At the end of the year, they counted the inventory and found 55 units remaining. How much was the Cost of goods sold for the year? (Please round to the nearest whole dollar.)

A Company Uses Periodic Inventory in Connection with the Average-Cost