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Required Information (The following information applies to the questions displayed below. During the year, a company has the following inventory transactions. Date Transaction Jan. 1
Required Information (The following information applies to the questions displayed below. During the year, a company has the following inventory transactions. Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov.11 Purchase Number of Units 15 20 25 25 85 Unit Cost $ 17 16 15 13 Total Cost $ 255 320 375 325 $1,275 For the entire year, the company sells 65 units of inventory for $25 each. 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cos per unit" to 2 decimal places and all other answers to the nearest whole number.) Cost of Goods Sold - Weighted Ending Inventory Weighted Average Cost of Goods Available for Sale Average Cost Weighted Average Average Cost of Goods # of units Average Average # of units Cost of Ending #of units Cost per Available for in Ending Sold unit Sale Unit Inventory unit Inventory Cost Cost Cost per Cost per Goods Sold 15 $ 255 Beginning inventory Purchases: Mar 4 Jun.9 Nov. 11 Total 20 25 25 85 320 375 325 $ 1.275
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