Vestle Company Uses the Periodic Inventory System

Multiple Choice

Vestle Company uses the periodic inventory system. For January 2014, the beginning inventory consisted of 24,000 units that cost CHF12 each. During the month, the company made two purchases: 10,000 units at CHF13 each and 40,000 units at CHF13.50 each. Vestle sold 43,000 units during the month for CHF19.50 per unit. Using the average-cost method, what is the amount of cost of goods sold for the month of January 2014 (round per unit amount to two decimal places) ?

A) CHF556,850.
B) CHF579,000.
C) CHF539,500.
D) CHF559,000.