TB EX Qu. 6-211 (Algo) During 2024, a company sells... During 2024, a company sells 20 units of inventory. The company has the following inventory purchase transactions for 2024: Number of Units 15 10 25 Date January 1 September 8 Transaction Beginning inventory Purchase Ending inventory Cost of goods sold Total Cost $750 1,160 $1,910 Unit Cost $50 116 Calculate ending inventory and cost of goods sold for 2024 assuming the company uses the weighted-average cost method. (Round weighted-average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.)

TB EX Qu. 6-211 (Algo) During 2024, a company sells... During 2024, a company sells 20 units of inventory. The company has the following inventory purchase transactions for 2024: Number of Units 15 10 25 Date January 1 September 8 Transaction Beginning inventory Purchase Ending inventory Cost of goods sold Total Cost $750 1,160 $1,910 Unit Cost $50 116 Calculate ending inventory and cost of goods sold for 2024 assuming the company uses the weighted-average cost method. (Round weighted-average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.)

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Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter5: Inventories And Cost Of Goods Sold

Section: Chapter Questions

Problem 5.24MCE

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