For the month ended May 31st, Box Etc. Provide the following information:
Opening balance 1,000 boxes at a cost of $15 per box.
Bought and sold on the following dates:
May 4 bought 560 boxes $16 each
May 8 sold 320 boxes at $25 each
May 13 bought 875 boxes $18.50 each
May 19 sold 470 boxes $26 each
May 22 bought 625 boxes $18.75
May 26 sold 600 boxes $26.50 ea
Calculate the stock valuation at the end of May 31st.
Calculate the value of inventory sold
What is the journal entry for COGS?
