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Compute the cost of goods sold

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Question - The Company uses a perpetual inventory system. On January 22, 2015, the company had 200 units of a particular product on hand, with a total cost of $2,400. The per-unit costs were:

Date Purchase quantity Unit Cost Total Cost

Ending inventory 2014 50 $9 $450

Jan 10 purchase 150 $13 $1,950

Total on Hand 200 $2,400

On January 24, 2015, Arrow sold 65 units of this product.

Using the three flow assumptions listed below, compute (1) the cost of goods sold, and (2) the cost of the inventory of this product on hand after this sale. Show your computations as per below format.

Reference no: EM132110588

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