Inventory data for Moath Company are reported as follows: Assume a sale of 440 units occurred on

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Inventory data for Moath Company are reported as follows:

Assume a sale of 440 units occurred on June 15 for a selling price of $8 and a sale of 360 units on June 27 for $9. On June 30, 100 units remain in inventory.

Instructions
Calculate the cost of ending inventory and cost of goods sold on June 30 under weighted average. Round per-unit cost to three decimal places.

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Accounting Principles Volume 1

ISBN: 9781119786818

9th Canadian Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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Question Posted: Jul 01, 2023 05:16 AM

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Inventory data for Moath Company are reported as follows: Assume a sale of 440 units occurred on

Question:

Date Explanation June 1 Beginning inventory 12 Purchase 23 Purchase Number of Units 200 400 300 Unit Cost $5 6 7 Total Cost $1,000 2,400 2,100

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Date June 1 12 15 23 27 Totals Purchases Units Cost Beginning inventory 20...View the full answer

Accounting Principles Volume 1

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