Given the following: Number purchased Cost per unit Total January 1 inventory 36 $ 5 $ 180 April 1 56 8 448 June 1 46 9 414 November 1 51 10 510 189 $ 1,552 a. Calculate the cost of ending inventory using the weighted-average method (ending inventory shows 57 units). (Round the "average unit cost" and final answer to the nearest cent.) b. Calculate the cost of goods sold using the weighted-average method. (Round your intermediate calculations and final answer to the nearest cent.)
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Weighted-average cost = (cost of April 1 + cost of June 1) / 2 = $9.14 Show more…
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