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Required information [The following information applies to the questions displayed below.] Glasgow Corporation has the following inventory transactions during the year. Number of Unit
Required information [The following information applies to the questions displayed below.] Glasgow Corporation has the following inventory transactions during the year. Number of Unit Date Transaction Units Cost Total Cost Jan. 1 Beginning inventory 56 $ 48 $2,688 Apr. 7 Purchase 136 50 6,800 Jul.16 Purchase 206 53 10,918 Oct. 6 Purchase 116 54 6,264 514 $26,670 For the entire year, the company sells 442 units of inventory for $66 each. 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 4 decimal places and all other answers to the nearest whole number.) Cost of Goods Available for Sale Cost Cost of Goods Sold-Weighted Average Ending Inventory - Weighted Average Cost Weighted Average Cost #of units Cost per unit Cost of Goods # of units Available for Sold Cost per Unit Cost of Goods Sold Sale # of units in Ending Inventory Cost per unit Ending Inventory Beginning Inventory 56 $ 2,688 Purchases: Apr 07 136 Jul 16 206 6,800 10,918 Oct 06 116 6,264 Total 514 $ 26,670 Sales revenue Gross profit
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