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A company had the following balances and transactions during 2019: Beginning Merchandise Inventory 150 units at $80 March 10 Sold 50 units June 10 Purchased
A company had the following balances and transactions during 2019:
Beginning Merchandise Inventory | 150 units at $80 |
March 10 | Sold 50 units |
June 10 | Purchased 300 units at $82 |
October 30 | Sold 140 units |
What would be reported as Cost of Goods Sold on the income statement for the year ending December 31, 2019 if the perpetual inventory system and the weighted-average inventory costing method are used? (Round the unit costs to two decimal places and total costs to the nearest dollar.)
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