Question
The following information is provided by Ivory Co. for the month of June: Date Units Unit Cost June 1 Beginning inventory 320 $22 18 Purchase
The following information is provided by Ivory Co. for the month of June: Date Units Unit Cost June 1 Beginning inventory 320 $22 18 Purchase 480 25 25 Purchase 345 30 Total 1,145 $77 Ivory sold 620 units in June. Calculate the cost of goods sold and the cost of ending inventory for the month of June using the weighted average cost method. a.Cost of goods sold is $7,368, and ending inventory is $22,295. b.Cost of goods sold is $6,907, and ending inventory is $22,749. c.Cost of goods sold is $17,501, and ending inventory is $12,285. d.Cost of goods sold is $16,120, and ending inventory is $13,650.
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