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During 2015, a company sells 490 units of inventory for $89 each. The company has the following inventory purchase transactions for 2015: Date Transaction Number
During 2015, a company sells 490 units of inventory for $89 each. The company has the following inventory purchase transactions for 2015: |
Date | Transaction | Number of Units | Unit Cost | Total Cost | ||||||
Jan. 1 | Beginning inventory | 79 | $ | 70 | $ | 5,530 | ||||
May 5 | Purchase | 266 | 71 | 18,886 | ||||||
Nov. 3 | Purchase | 186 | 73 | 13,578 | ||||||
531 | $ | 37,994 | ||||||||
Calculate cost of goods sold and ending inventory for 2015 assuming the company uses weighted-average cost with a periodic inventory system. (Round weighted-average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount. Omit the "$" sign in your response.) |
Cost of goods sold | $ |
Ending inventory | $ |
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