Response to the following problem:
The following information was obtained from the Able Trading Co. during the current accounting period: Purchase 500 unit at $6.50, 240 units at $5.90, 370 units at $6.10, nnd 320 units at $6.00. Ending Merchandise Inventory physical count-290 units.
Determine:
(I) The average cost per unit;
(2) The COSt assigned to the cnding inventory;
(3) The value of the cost of goods sold.