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Inventory data for Shamrock Company are reported as follows: Number of Date Explanation Units Unit Cost Tota I Cost June 1 Beginning inventory 260 $5
Inventory data for Shamrock Company are reported as follows: Number of Date Explanation Units Unit Cost Tota I Cost June 1 Beginning inventory 260 $5 $1,300 12 Purchase 6 2,760 23 Purchase 360 7 2,520 Assume a sale of 500 units occurred on June 15 for a selling price of $8 and a sale of 420 units on June 27 for $9. On June 30, 160 units remain in inventory. Calculate the cost of ending inventory and cost of goods sold on June 30 under weighted average. (Round the weighted average cost per unit to 3 decimal places, e.g. 5.271 and final answers to 2 decimal places, e.g. 5,275.75.)
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