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During 2021, a company sells 490 units of inventory for $92 each. The company has the following inventory purchase transactions for 2021: Date Transaction Number
During 2021, a company sells 490 units of inventory for $92 each. The company has the following inventory purchase transactions for 2021:
Date | Transaction | Number of Units | Unit Cost | Total Cost | |||||||||
Jan. | 1 | Beginning inventory | 71 | $ | 76 | $ | 5,396 | ||||||
May | 5 | Purchase | 261 | 77 | 20,097 | ||||||||
Nov. | 3 | Purchase | 182 | 79 | 14,378 | ||||||||
514 | $ | 39,871 | |||||||||||
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.)
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