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The following are the transactions for the month of July. Units Unit Cost Unit Selling Price July 1 Beginning Inventory 41 $ 10 July 13
The following are the transactions for the month of July.
Units | Unit Cost | Unit Selling Price | ||||||||
July 1 | Beginning Inventory | 41 | $ | 10 | ||||||
July 13 | Purchase | 205 | 12 | |||||||
July 25 | Sold | ( | 100 | ) | $ | 16 | ||||
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July 31 | Ending Inventory | 146 | ||||||||
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Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under (c) weighted average cost. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) Solve the question marks.
Weighted Average (Periodic)
Units | Cost per Unit | Total | |
Beginning Inventory | ? | ? | ? |
Purchases | ? | ? | ? |
Goods Available for Sale | ? | ||
Cost of Goods Sold | ? | ? | ? |
Ending Inventory | ? | ||
Weighted Average (Periodic) | |||
Sales | ? | ||
Cost of Goods Sold | ? | ||
Gross Profit | ? |
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