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Q7. Nordstrom uses the weighted-average method to account for its Men's Shirts inventory. Below are the purchases in July: Beginning Inventory 50 shirts at $40
Q7. Nordstrom uses the weighted-average method to account for its Men's Shirts inventory. Below are the purchases in July:
Beginning Inventory | 50 shirts at $40 each for a total of $2,000 |
July 10th purchase | 30 shirts at $42 each for a total of $1,260 |
July 25th purchase | 60 shirts at $45 each for a total of $2,700 |
If Nordstrom sold 16 shirts during July, what would cost of goods sold be for July?
Round ALL calculations to ONE decimal place.
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