Comstock Company purchased 1,000 units of its product for $6 per unit. Comstock sold 800 units for $10 per unit.
a. What is Comstock's sales revenue?
Sales revenue based on sales price of inventory sold =$6 per unit
b. What is Comstock's cost of goods sold?
Cost of goods sold based on cost of inventory sold = $10 per unit
c. What is Comstock's inventory?
Inventory based on cost of inventory on hand= $10 per unit