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Inventory Costing Methods and the Perpetual Method McKay & Company experienced the following events in March: Date Mar.1 Purchased inventory 100 e Mar. 3 Sold
Inventory Costing Methods and the Perpetual Method McKay & Company experienced the following events in March: Date Mar.1 Purchased inventory 100 e Mar. 3 Sold inventory Mar. 15 Purchased inventory 100 e Mar. 20 Sold inventory Event Units Unit Cost Total Cost $25 $2,500 60 $28$2,800 40 Assume the perpetual inventory system is used. Use the weighted-average inventory costing method to calculate the company's cost of goods sold and ending inventory as of March 31 Round weighted-average cost per unit to two decimal places. Use rounded answer for subsequent calculations. Round all other answers to the nearest dollar March 3 Cost of goods sold 1,500 March 20 Weighted-average cost per unit Cost of goods sold March 31 Total cost of goods sold Ending inventory
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