Horne Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 74 units were sold.
Date | Explanation | Units | Unit Cost | Total Cost | ||||
May 1 | Inventory | 30 | $9 | $270 | ||||
15 | Purchase | 25 | 10 | 250 | ||||
24 | Purchase | 38 | 11 | 418 | ||||
Total | 93 | $938 |