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The following transactions occurred for the month of May. Date 1-May Beginning Balance 2-May Purchase 3-May Purchase 10-May Sale 15-May Purchase 17-May Sale 30-May Sale
The following transactions occurred for the month of May. Date 1-May Beginning Balance 2-May Purchase 3-May Purchase 10-May Sale 15-May Purchase 17-May Sale 30-May Sale Units Cost Total Sales Price 75 10 $750 60 11 $660 80 16 $1,280 $40 19 $855 60 $40 40 $40 Calculate the cost of Goods Sold, Ending inventory, and Gross Profit for the month under Weighted Averages. Do not round the unit cost. Do round total costs to the nearest cent on each transaction. End of the month totals Cost of Goods Sold $C Ending Inventory $ Gross Profit
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