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A company uses the weighted average method of inventory valuation under a periodic inventory system. The company began the year with a zero inventory balance.
A company uses the weighted average method of inventory valuation under a periodic inventory system. The company began the year with a zero inventory balance. They had the following transactions during the year. 1. Purchased 61 units at $5.00 per unit 2. Purchased 120 units at $5.00 per unit 3. Sold 95 units at $10.00 per unit 4. Purchased 55 units at $6.00 per unit 5. Sold 95 units at $12.75 per unit At the end of the year, the company counted the inventory and found 46 units remaining. Calculate the cost of goods sold for the year. (Round the unit costs to two decimal places and total costs to the nearest dollar.) O A. $994.00 O B. $241.00 O C. $5.00 OD. $1,235.00
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