The Cake factory uses 480 pounds of flour to make 1,000 chocolate cakes. How many pounds of flour are in each cake?

2. using calculations based on a perpetual inventory system, determine the inventory balance altira would report in its august 31, 2021, balance sheet and the cost of goods sold it would report in its august 2021 income statement using the average cost method. (round "average cost per unit" to 2 decimal places.)