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During 2021, a company sells 460 units of inventory for $88 each. The company has the following inventory purchase transactions for 2021: Date Transaction
During 2021, a company sells 460 units of inventory for $88 each. The company has the following inventory purchase transactions for 2021: Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 76 May 5 Purchase 266 $75 76 $ 5,700 20,216 Nov. 3 Purchase 181 523 78 14,118 $40,034 Calculate cost of goods sold and ending inventory for 2021 assuming the company uses the weighted-average cost method. (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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