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Required information In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 350

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Required information In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 350 units at $6 on January 1, (2) 650 units at $8 on January 8, and (3) 800 units at $9 on January 29. Assuming 1,100 units are on hand at the end of the month. Calculate the cost of goods available for sale, cost of goods sold, and ending inventory under the weighted average cost flow assumptions. Assume perpetual inventory system and sold 700 units between January 9 and January 28. (Round your intermediate calculations to 2 decimal places.) & Answer is complete but not entirely correct. Weighted Average Cost $ 14,500 Goods Available for Available for Sale Cost of Goods Sold Ending Inventory 5,642 8,858 X

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