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The following information relates to Hogs Back Falls Ltd.s inventory transactions during the month of February. Units Cost/Unit Amount Feb. 1 Beginning inventory 8,000 $
The following information relates to Hogs Back Falls Ltd.s inventory transactions during the month of February.
Units | Cost/Unit | Amount | ||||||
Feb. 1 | Beginning inventory | 8,000 | $ 24.00 | $ 192,000 | ||||
10 | Sale | 7,100 | ||||||
14 | Purchase | 4,100 | $ 25.00 | $ 102,500 | ||||
18 | Purchase | 600 | $ 28.00 | $ 16,800 | ||||
25 | Sale | 3,600 | ||||||
26 | Purchase | 3,900 | $ 33.00 | $ 128,700 | ||||
28 | Sale | 3,200 |
All of the units sold were priced at $ 79.00 per unit.
Hogs Back Falls Ltd. uses the perpetual inventory system. Calculate Hogs Backs cost of goods sold, gross margin, and ending inventory for the month of February using weighted-average. (Round calculations for cost per unit to 2 decimal places, e.g. 10.52 and final answers to 0 decimal places, e.g. 61,052.)
Cost of Goods Sold | $ | |
Gross Margin | $ | |
Ending Inventory | $ |
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