The following lots of a particular commodity were available for sale during the year: 
The firm uses the periodic system and there are 20 units of the commodity on hand at the end of the year.
What is the amount of cost of good sold for the year according to the average cost method?
Definitions:
Traditional Costing
An accounting method that applies indirect costs to products based on a predetermined overhead rate, typically simpler than activity-based costing.
Activity-Based Costing
A costing methodology that assigns the costs of resources to products or services based on activities and processes involved in their production.
Traditional Costing Method
A cost accounting method that assigns overhead costs to products based on a predetermined overhead rate.
Direct Labor-Hours
A measure representing the total hours worked by employees directly involved in the production of goods or services.
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