Suppose the business whose inventory acquisition history appears table sold all 186,000 units that it had available for sale during the year. In this situation, does the business’s choice of cost of goods sold expense method make any difference?
|
Quantity |
Per Unit |
Cost |
|
|
First purchase |
14,200 Units |
$25.75 |
$365,650 |
|
Second purchase |
42,500 Units |
$23.85 |
$1,013,625 |
|
Third purchase |
16,500 Units |
$24.85 |
$410,025 |
|
Fourth purchase |
36,500 Units |
$23.05 |
$841,325 |
|
Fifth purchase |
6,100 Units |
$26.15 |
$159,515 |
|
Sixth purchase |
52,000 Units |
$23.65 |
$1,229,800 |
|
Seventh purchase |
18,200 Units |
$26.00 |
$473,200 |
|
Totals |
186,000 Units |
$4,493,140 |