Section 4-INVENTORY COSTING THE WEIGHTED-AVG. AND MOVING-AVG. METHODS 1. FlipCo, which uses the periodic method and weighted average costing, begins operations in 20X8. On January 15, FlipCo purchases 20 units at $6 each; on March 21, 30 units at $7.00 each, on June 1, 450 units at $5.25 each, and on November 12, 50 units at $6.25 each. a. What is FlipCo's cost per unit? b. If ending inventory is 125 units, what is FlipCo's 20X8 ending inventory and COGS? 500 2. CommerceCo. provides you with the following information: December 31, 20X8 Ending inventory of 600 units s 8,800 January 28, 20x9 Purchase of 700 units @ $23 16,100 January 28,20x9 Freight for purchase October 5, 20X9 Purchase of 900 units @ $25 22.500 October 9, 20x9 Return of 200 units @ $25 On December 31, 20X9, there are 1,200 units on hand. Using the weighted average method, what is cost of goods sold on CommerceCo's 20X9 income statement? 5.000