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A company has a beginning inventory of $ 60,000 and purchases during the year of $ 90,000. The beginning inventory consisted of 4,000 units and 9,000 units were purchased during the year. The company has 5,000 units left at yearminusend. Under averageminus​cost, what is Cost of Goods​ Sold? (Round any intermediary calculations to two decimal places and your final answer to the nearest​ dollar.)

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TomShelby

Answer:

Cost of goods sold 103,860

Explanation:

beginning 4,000 units at $60,000

purchases 9,000 units at $90,000

Cost of goods available 13,000 units at $150,000

average cost 11.54 (rounded to two decimal places)

13,000 units of  goods for sale - 5,000 ending inventory = 9,000 units sold

cost of goods sold 9,000 x 11.54 = 103,860

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