Question - Pronghorn Corp markets CDs of numerous performing artists. At the beginning of March, Pronghorn Corp had in beginning inventory 2,600 CDs with a unit cost of $7. During March, Pronghorn Corp made the following purchases of CDs.
March 51,940@ $8March 214,990@ $10March 133,320@ $9March 261,810@ $11
During March 10,950 units were sold. Pronghorn Corp uses a periodic inventory system.
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(a) Determine the cost of goods available for sale.
(b) Calculate Average Cost.