Please do not give solution in image format thanku During 2024, a company sells 470 units of inventory for $86 each. The company has the following inventory purchase transactions for2024:DateJanuary 1May 5November 3TransactionBeginning inventoryPurchasePurchaseCost of goods soldEnding inventoryNumber ofUnits73268186527UnitCost$707173Total Cost$5,11019,02813,578$37,716Calculate cost of goods sold and ending inventory for 2024 assuming the company uses the weighted-average cost method. (Roundweighted-average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.)

Name: Please do not give solution in image format thanku During 2024, a comp
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Description: Please do not give solution in image format thanku During 2024, a company sells 470 units of inventory for $86 each. The company has the following inventory purchase transactions for2024:DateJanuary 1May 5November 3TransactionBeginning inventoryPurch

The weighted average cost method calculates the average cost of inventory based on the total cost of…

Business

Accounting

During 2024, a company sells 470 units of inventory for $86 each. The company has the following inventory purchase transactions for 2024: Date January 1 May 5 November 3 Transaction Beginning inventory Purchase Purchase Cost of goods sold Ending inventory Number of Unit Units: Cost 73 $70 268 71 186 73 527 Total Cost $5,110 19,028 13,578 $37,716 Calculate cost of goods sold and ending inventory 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.)

During 2024, a company sells 470 units of inventory for $86 each. The company has the following inventory purchase transactions for 2024: Date January 1 May 5 November 3 Transaction Beginning inventory Purchase Purchase Cost of goods sold Ending inventory Number of Unit Units: Cost 73 $70 268 71 186 73 527 Total Cost $5,110 19,028 13,578 $37,716 Calculate cost of goods sold and ending inventory 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.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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