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Question 13

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Use the following information to answer questions
Abalone Corp.uses a periodic inventory system.
Use the following information to answer questions Abalone Corp.uses a periodic inventory system. A physical count of merchandise inventory on July 31 shows that 25 units are on hand. -Under the average cost method, cost of goods sold for July was A) $1,600. B) $1,500. C) $520. D) $500. A physical count of merchandise inventory on July 31 shows that 25 units are on hand.
-Under the average cost method, cost of goods sold for July was


A) $1,600.
B) $1,500.
C) $520.
D) $500.

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