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During 2021, a company sells 500 units of inventory for $88 each. The company has the following inventory purchase transactions for 2021: Date Transaction Number
During 2021, a company sells 500 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 | 73 | $ | 78 | $ | 5,694 | ||||||
May | 5 | Purchase | 262 | 79 | 20,698 | ||||||||
Nov. | 3 | Purchase | 184 | 81 | 14,904 | ||||||||
519 | $ | 41,296 | |||||||||||
Calculate cost of goods sold and ending inventory for 2021 assuming the company uses the weighted-average cost method.
Cost of goods sold:?
ending inventory:?
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