Assume That Three Identical Units of Merchandise Were Purchased During

question 6

Essay

Assume that three identical units of merchandise were purchased during October, as follows:
​ $\begin{array}{|l|r|l|c|r|}\hline & & & \text { Units } &{\text { Cost }} \\\hline \text { October } & 5 & \text { Purchase } & 1 & \$ 5 \\\hline & 12 & \text { Purchase } & 1 & 13 \\\hline & 28 & \text { Purchase } & 1 & 15 \\\hline \text { Total } & & & \underline{3} & \$ 33 \\\hline\end{array}$ ​
Assume one unit is sold on October 31 for $28. Determine cost of goods sold, gross profit, and ending inventory under the average cost method.

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Definitions:

Dangerous Chemicals

Substances that pose a considerable risk to human health or the environment due to their toxic, corrosive, reactive, or flammable properties.

Economic Deviance

Activities deviating from accepted economic norms and laws, including both white-collar crimes and other forms of illegal or unethical economic behaviors.

Deviant Motivation

The psychological drive or reasoning behind behavior that deviates from societal norms or expectations.

Unshareable Financial Problem

A financial difficulty that is perceived as so embarrassing or stigmatizing that the individual feels it cannot be disclosed to others.