Question 1 The accounting records of Sunland Company show th

Question 1 The accounting records of Sunland Company show the following data. Beginning inventory 3,190 units at $6 Purchases 7,450 units at $8 Sales 9,194 units at $11

Solution

Calculate cost of goods sold and ending inventory :

Units Cost
Beginning inventory 3190 19140
Purchase 7450 59600
Total cost of goods available for sale 10640 78740
Ending inventory (10640-9194)*8 1446 11568
Cost of goods sold 9194 67172
Question 1 The accounting records of Sunland Company show the following data. Beginning inventory 3,190 units at $6 Purchases 7,450 units at $8 Sales 9,194 unit

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