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Sandhill Co. uses a perpetual inventory system. The company began 2021 with 900 tamps in inventory at a cost of $11 per unit. During 2021,
Sandhill Co. uses a perpetual inventory system. The company began 2021 with 900 tamps in inventory at a cost of $11 per unit. During 2021, Sandhill had the following purchases and sales of lamps: Purchased February 15 April 24 Sold June 6 Purchased 1,800 units @ $17 per unit 2250 units @ $29 per unit 3,150 units @ $22 per unit 1.800 units @ $32 per unit 1,260 units@ $25 per unit October 18 Sold December 4 Purchased All purchases and sales are on account Calculate the cost of goods sold and ending inventory using weighted average. (Round the weighted average cost per unit to three decimal places, c.8. 5.275 and final answers to decimal places, c.8. 5,275.) Average Cost of goods sold $ Ending inventory 5 June 6 (To record purchase on account.) Oct. 18 (To record sales on account.) Oct. 18 (To record cost of goods sold.)
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