Answered step by step
Verified Expert Solution
Question
1 Approved Answer
16 TB EX Qu. 6-208 During 2021, a company sells... 0.5 points During 2021, a company sells 490 units of inventory for $92 each.
16 TB EX Qu. 6-208 During 2021, a company sells... 0.5 points During 2021, a company sells 490 units of inventory for $92 each. The company has the following inventory purchase transactions for 2021: Date Transaction Number of Units Jan. 1 Beginning inventory 78 May 5 Purchase 267 Unit Cost $77 78 Total Cost $ 6,006 20,826 Nov. 3 Purchase 181 526 80 14,480 $41,312 Calculate cost of goods sold and ending inventory for 2021 assuming the company uses the weighted-average cost method. (Round weighted-average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.) Answer is complete but not entirely correct. Cost of goods sold $ 36 Ending inventory $ 2,839 Return to question
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started