Solution-What amount should Etsy report as cost of goods

What amount should Etsy report as cost of goods

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Question - Etsy Co. uses a periodic inventory system. The following are inventory transactions for the month of January: 1/1 Beginning inventory 10,000 units at $3 1/5 Purchase 5,000 units at $4 1/15 5,000 units at $5 1/20 Sales at $10 per unit 10,000 units. Etsy uses the average pricing method to determine the value of its inventory. What amount should Etsy report as cost of goods on its income statement for the month of January?

Reference no: EM132917250

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What amount should Etsy report as cost of goods

Reference no: EM132917250

Reference no: EM132917250

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