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12. Use this inventory information for the month of July to answer the following...

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Question

Accounting

12.

Use this inventory information for the month of July to answer the following question.

July

1

 Beginning inventory 10 units @ $120

5

 Purchase 60 units @ $112

14

 Sale 40 units

21

 Purchase 30 units @ $116

31

 Sale 28 units

Assuming that a periodic inventory system is used, what is cost of goods sold under the average-cost method?

a. $7,752
b. $3,712
c. $7,888
d. $3,648

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