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Craig Ltd. began the month of March with 928 units in inventory with a total cost of $2,320. The company uses a perpetual inventory system
Craig Ltd. began the month of March with 928 units in inventory with a total cost of $2,320. The company uses a perpetual inventory system and had the following transactions during the month of March: Unit Cost $3.15/unit $3.20/unit Total Cost $7,308 $5,200 Mar. 7 Mar. 12 Mar. 15 Mar. 21 Mar. 26 Purchased 2,320 units Purchased 1,625 units Sold 1,270 units at $6.60/unit Purchased 930 units Sold 1,392 units at $6.60/unit $3.70/unit $3,441 (a) Your answer is correct. Determine Craig's cost of goods available for sale for March. Cost of goods available for sale SHOW SOLUTION LINK TO TEXT Attempts: 1 of 2 used (b) Determine the cost of goods sold for the month of March and the value of inventory at the end of the month assuming Craig Ltd. uses the weighted average cost flow assumption. (Round calculations for cost per unit to 2 decimal places, e.g. 10.51 and final answers to o decimal places, e.g. 61,053.) Cost of goods sold Value of ending inventory
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