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Sunland Company uses a periodic inventory system. Details for the inventory account for the month of January 2017 are as follows:

Units Per unit price Total
Balance, 1/1/2017 290 $5.00 $1450
Purchase, 1/15/2017 140 ..5.10 714
Purchase, 1/28/2017 140 ..5.30 742

An end of the month (1/31/2017) inventory showed that 230 units were on hand. How many units did the company sell during January 2017?

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Answer:

Total units sold= 340 units sold

Explanation:

Giving the following information:

Beginning inventory: 290u*$5.00= $1450

Purchase, (1/15/2017)= 140u*5.10= $714

Purchase, (1/28/2017)= 140u*5.30= $742

Ending inventory= 230u

How many units did the company sell during January?

Total units sold= beginning inventory + purchase - ending inventory= 290 + 280 - 230= 340 sold

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