During March 12,500 units were sold. Glanville uses a periodicinventory system.

Question

During March 12,500 units were sold. Glanville uses a periodicinventory system.

$ 47135

Glanville Distribution markets CDs of theperforming artist Harrilyn Clooney. At the beginning of March,Glanville had in beginning inventory 1,690 Clooney CDs with a unitcost of $7.10. During March Glanville made the following purchasesof Clooney CDs. March 5 3,190 @ $8.10 March 21 4,190 @ $10.10 March 13 5,690 @ $9.10 March 26 2,190 @ $11.10

During March 12,500 units were sold. Glanville uses a periodicinventory system.

Explanation / Answer

x.P5order="0" cellspacing="0" cellpadding="0" width="629"> Units Unit Cost Total Cost Beginning Inventory          1,690 $7.10 $11,999.00 Purchase March 5          3,190 $8.10 $25,839.00 Purchase March 13          5,690 $9.10 $51,779.00 Purchase March 21          4,190 $10.10 $42,319.00 Purchase March 26          2,190 $11.10 $24,309.00 Average Cost       16,950 $156,245.00 $9.21800 Units Sold in March       12,500 Ending Inventory          4,450 Ending Inventory Sold FIFO         1,690 $7.10 $11,999.00

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