Novak Distribution markets CDs of the performing artist Fishe.
At the beginning of October, Novak had in beginning inventory 3,300
of Fishe’s CDs with a unit cost of $7. During October, Novak made
the following purchases of Fishe’s CDs.
Oct. 3 |
|
4,125 |
@ |
$8 |
|
Oct. 19 |
|
4,950 |
@ |
$10 |
Oct. 9 |
|
5,775 |
@ |
$9 |
|
Oct. 25 |
|
6,600 |
@ |
$11 |
During October, 17,985 units were sold. Novak uses a periodic
inventory system.