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August 29, 2014

Homework Help: Accounting

Posted by Joan A on Tuesday, May 10, 2011 at 1:26pm.

Glanville Distribution markets CDs of the performing artist Harrilyn Clooney. At the beginning of March, Glanville had in beginning inventory 1,500 Clooney CDs with a unit cost of $7. During March Glanville made the following purchases of Clooney CDs.
March 5 3,000 @ $8 March 21 4,000 @ $10
March 13 5,500 @ $9 March 26 2,000 @ $11

During March 12,500 units were sold. Glanville uses a periodic inventory system.

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