A company purchased 120

120 units for $ 30

$30 each on 31 January. It purchased 150

150 units for $ 35

$35 each on 28 February. It sold 150

150 units for $ 50

$50 each from 1 March to 31 December. If the company uses the weightedminus

average inventory costingmethod, calculate the amount of cost of sales on the income statement for the year ending 31 December.(Assume the company uses the perpetual inventorysystem.)