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During 2018, a company sells 480 units of inventory for $91 each. The company has the following inventory purchase transactions for 2018: Date Transaction Numbers
During 2018, a company sells 480 units of inventory for $91 each. The company has the following inventory purchase transactions for 2018:
Date | Transaction | Numbers of Units | Unit Cost | Total Cost |
Jan. 1 | Beginning inventory | 74 | $ 72 | $ 5,328 |
May 5 | Purchase | 262 | 73 | 19,126 |
Nov. 3 | Purchase | 182 | 75 | 13,650 |
------------- | ------------- | |||
518 | $ 38,104 |
Calculate cost of goods sold and ending inventory for 2018 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.)
Cost of goods sold | |
Ending inventory |
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