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Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and (c) gross margin
Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and (c) gross margin for A75 Company, considering the following transactions. Round your intermediate calculations to 2 decimal places and final answers to nearest whole dollar.
Number of Units | Unit Cost | |
Beginning Inventory | 105 | $49 |
Purchased Mar. 2 | 160 | 51 |
Sold Mar. 31 for $70 per unit | 83 |
(a) Sales Revenue | $fill in the blank 1 |
(b) Cost of Goods Sold | fill in the blank 2 |
(c) Gross Margin |
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