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3. using weighted average cost calculate ending inventory cost of goods sold, sales revenue and gross profit Number of Unit Date Units Cost Total Cost
3. using weighted average cost calculate ending inventory cost of goods sold, sales revenue and gross profit
Number of Unit Date Units Cost Total Cost Jan. 1 60 $52 Beginning inventory Apr. 7 Purchase $ 3,120 140 54 7,560 Jul.16 Purchase 210 57 11,970 Oct. 6 Purchase 120 58 6,960 530 $29,610 For the entire year, the company sells 450 units of inventory for $70 each. 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 2 decimal places and all other answers to the nearest whole number.) Cost of Goods Available for Sale Ending Inventory - Weighted Average Cost Weighted Average Cost # of units Average Cost of Goods Sold - Weighted Average Cost # of units Sold Average Cost of Goods Available in # of units Ending Cost per Average Cost of Cost per Goods Unit Sold Cost per unit Inventory Ending Inventory unit for Sale Beginning $ 3,120 Inventory Purchases: Apr 07 7,560 Jul 16 11,970 Oct 06 6,960 $ 29,610 Total Transaction 60 140 210 120 530 Step by Step Solution
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