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Sunland Company uses a perpetual inventory system. The company began 2021 with 1,000 lamps in inventory at a cost of $13 per unit. During
Sunland Company uses a perpetual inventory system. The company began 2021 with 1,000 lamps in inventory at a cost of $13 per unit. During 2021, Sunland had the following purchases and sales of lamps: February 15 April 24 Purchased 2,000 units @ $19 per unit Sold 2,500 units @ $31 per unit June 6 Purchased 3,500 units @ $24 per unit October 18 Sold 2,000 units @ $34 per unit December 4 Purchased 1,400 units @ $27 per unit All purchases and sales are on account. (a) Calculate the cost of goods sold and ending inventory using weighted average. (Round the weighted average cost per unit three decimal places, e.g. 15.120 and final answers to O decimal places, e.g. 5,275.) Cost of goods sold Ending inventory Average
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