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An entity has the following inventory transactions for an item of inventory: Opening Inventory: 114 units @ $11 Purchase 1: 210 units @ $13 Sale
An entity has the following inventory transactions for an item of inventory:
Opening Inventory: 114 units @ $11
Purchase 1: 210 units @ $13
Sale 1: 61 units
What is the cost of goods sold assuming the entity uses the periodic weighted average method (round to the nearest whole dollar)?
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