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24 March, 21:36

Ziad Company had a beginning inventory on January 1 of 270 units of Product 4-18-15 at a cost of $19 per unit. During the year, the following purchases were made.

Mar. 15 720 units at $22

Sept. 4 630 units at $25

July 20 450 units at $23

Dec. 2 180 units at $28

1,800 units were sold.

Ziad Company uses a periodic inventory system.

Determine the cost of goods available for sale.

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  1. 24 March, 22:56
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    Cost of goods available for sale = $52,110

    Explanation:

    Giving the following information:

    January 1: 270 units at $19 per unit

    Mar. 15: 720 units at $22

    Sept. 4: 630 units at $25

    July 20: 450 units at $23

    Dec. 2: 180 units at $28

    The cost of goods available for sales is a previous step to calculating the cost of goods sold. It is the total cost of the units prepared to be sold.

    Cost of goods available for sale = 270*19 + 720*22 + 630*25 + 450*23 + 180*28 = $52,110
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