Kara Company Uses A Periodic Inventory System Kara Sold 420 Coats In 2012 For 50 (1)
Merchandise inventory and purchases: (coats inventory)
Jan. 1 Balance 300 coats @ $ 70.00 = $21,000
March 6 Purchased 200 coats @ $ 80.00 = $16,000
July 15 Purchased 300 coats @ $ 90.00 = $27,000
Oct. 23 Purchased 100 coats @ $100.00 = $10,000
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