The periodic inventory records of

Flexon

Prosthetics indicate the following for the month of

July:

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Data Table

Jul. 1	Beginning merchandise inventory	6 units @ $60 each
Jul. 8	Purchase	5 units @ $67 each
Jul. 15	Purchase	10 units @ $70 each
Jul. 26	Purchase	5 units @ $85 each

At

July

31,

Flexon

counts

four

units of inventory on hand.

Compute ending merchandise inventory and cost of goods sold for

Flexon

using the weighted-average inventory costing method.

	Weighted-average
Ending Merchandise Inventory
Cost of Goods Sold