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Tama Inc. uses a perpetual inventory system and had the following activity for a single inventory item: Units Unit Cost Total Cost May 1, inventory
Tama Inc. uses a perpetual inventory system and had the following activity for a single inventory item:
Units Unit Cost Total Cost
May 1, inventory 140 $2.50 $350
Purchases:
May 5 200 3.50 700
May 10 140 4.50 630
May 15 160 5.50 880
Sales:
May 11 250
May 19 150
Using the perpetual system, determine the ending inventory and cost of goods sold under weighted-average method (round unit cost to nearest cent)
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