Calculate cost of goods sold and ending inventory: periodic weighted average cost. (LO 3, 4)

Sandy's Clean Carpet Company sells commercial vacuums. The company's fiscal year begins July 1, 2006, and ends June 30, 2007. Sandy's began the year with 1,500 units of inventory on hand. These units cost \(\$ 200\) each. The following transactions related to the company's merchandise inventory occurred during the first quarter of the year.

All unit costs include the purchase price and freight charges paid by Sandy's Clean Carpet. During the quarter ending September 30, 2006, sales in units totaled 1,950 units.
Assume Sandy's Clean Carpet uses a periodic inventory system and the weighted average cost flow method.

a. Calculate the cost of goods sold that will appear on Sandy's Clean Carpet Company's income statement for the quarter ending September 30.

b. Determine the cost of inventory that will appear on Sandy's Clean Carpet Company's balance sheet at the end of September.

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July 15 August 28 Purchased 450 units for $195 each Purchased 575 units for 5190 each September 10 Purchased 600 units for $185 cach Total purchases 1,625 units