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Bert's Beachside Burgers is mostly a summer weekend business, but Bert opens for special events throughout the year, such as the New Year's polar bear
Bert's Beachside Burgers is mostly a summer weekend business, but Bert opens for special events throughout the year, such as the New Year's polar bear swim. The business has a fiscal year end of December 31. It sells one kind of burger, which are purchased frozen. On January 1, Bert's had 210 units in inventory with a cost of $3.20 each. During the year, 840 units were sold. Bert's Beachside Burgers uses a periodic inventory system. Do not enter dollar signs or commas in the input boxes. Round per unit values to 2 decimal places. Round all answers to 2 decimal places. Purchases Date Quantity Cost Value Jan 1 210 $3.20 $ Feb 20 400 $3.15 $ Mar 15 260 $2.90 $ Jun 10 170 $2.65 $ Sep 30 500 $2.55 $ Nov 201 100 $2.45 $ Required Assuming weighted-average cost inventory valuation is used, calculate total i) cost of sales and ii) ending inventory. Cost of Sales = $ Ending Inventory = $
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