Robey CompanyThe following data are available for one of the products sold by Robey Company, which uses a perpetual inventory system.
February
1
On hand, 10 units at $2 each 8
Sold, 6 units for $10 each 14
Purchased, 30 units at $3 each 25
Sold, 24 units for $10 eachRefer to the information provided for Robey Company. If the Moving Average Cost method is used, determine the following amounts:
A) Cost of Goods sold for the month of February
B) Ending inventory on February 28th
What will be an ideal response?
Business
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