The Following Data Are Available for One of the Products

question 8

Essay

The following data are available for one of the products sold by Paschal Exports, which uses a perpetual inventory system. $\begin{array}{llr}\text { July } 1& \text { Beginning inventory, } 1,000 \text { units at } \$ 2 \text { each } & \$ 2,000 \\5 & \text { Purchased } 2,000 \text { units at } \$ 2.75 \text { each } & 5,500 \\10 & \text { Sold } 2,500 \text { units for } \$ 16 \text { each } & \\15 & \text { Purchased } 2,000 \text { units at } \$ 4 \text { each } & 8,000 \\25 & \text { Sold } 1,500 \text { units for } \$ 12 \text { each } & \\31 & \text { Ending inventory, } 1,000 \text { units } &\end{array}$

-Refer to the information provided for Paschal Exports.If the moving average cost method of inventory costing is used,determine the following amounts:
A)cost of goods sold for the units sold on July 10th
B)ending inventory on July 31st

• A)cost of goods sold for the units sold on July 10th
• B)ending inventory on July 31st

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Definitions:

Average Class Size

A statistical measure indicating the mean number of students per class in an educational institution, used as an indicator of learning environment quality.

Organizational Objectives

Specific, measurable goals set by an organization aiming to guide its operations and strategic direction.

Collective Action

The effort and action taken together by a group of people to achieve a common objective or to solve a problem collectively.

Changing Environment

A changing environment refers to the dynamic and evolving nature of surroundings or conditions, especially those affecting organizations and necessitating adaptability and flexibility.