Blue Spruce Distribution markets CDs of numerous performing artists. At the begi

Question

Blue Spruce Distribution markets CDs of numerous performing artists. At the beginning of March, Blue Spruce had in beginning inventory 2,470 CDs with a unit cost of $7. During March, Blue Spruce made the following purchases of CDs. March 5 2,0908 March 21 5,110$10 Merch 13 3,570 March 26 2,18011 During March 12,280 units were sold. Blue Spruce uses a periodic inventory system ? (a) X Your answer is incorrect. Try again Determine the cost of goods available for sale 1-3 The cost of goods available for sale SHOW LTST oF

Explanation / Answer

(a) COST OF GOODS AVAILABLE FOR SALE

Date Explanation Units Unit cost Total cost Mar 1 Beginning Inventory 2,470 $7 $17,290 Mar 5 Purchase 2,090 $8 $16,720 Mar 13 Purchase 3,570 $9 $32,130 Mar 21 Purchase 5,110 $10 $51,100 Mar 26 Purchase 2,180 $11 $23,980 Total $141,220

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