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In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 220 units at
In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 220 units at $6 on January 1, (2) 490 units at $7 on January 8 , and (3) 790 units at $8 on January 29. ssuming 950 units are on hand at the end of the month, calculate the cost of goods available for sale, ending inventory, and cost o oods sold under weighted average cost flow assumptions. Assume a periodic inventory system is used. (Round "Cost per Unit" to ecimal places.)
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