Question $4$ of $5$

View Policies

$0\mathrm{.}6712$

Show Attempt History

Current Attempt in Progress

Sheffield Corporation opened a new store on January $1,2024.$ During $2024,$ the first year of operations, the following purchases and sales of inventory were made:

$\backslash$table$[[$Purchases$,$Sales$],[$Date$,,$Units,Cost per unit,Date,,Units,Price per unit$],[$Jan$.,5,10,$$$1,100,$July,$4,15,$$$2,100],[$June$,11,10,1,330,$Dec.,$29,34,2,100],[$Oct$.,18,16,1,450,,,,],[$Dec$.,20,18,1,690,,,,]]$

$($a$)$ and b$,$ Assume Sheffield uses weighted average periodic.

Calculate the cost of ending inventory, cost of goods sold, and gross profit. $($Round the weighted average cost per unit to $2$ decimal places, e$.$g$.52\mathrm{.}75$ and final answers to $0$ decimal places, e$.$g$.5,275.)$

Ending inventory

Cost of goods sold

Gross profit