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Inventory records for Eliza Company revealed the following: Number of Date March 1 Transaction Units Unit Cost Beginning Inventory. 1,050 $ 7.15 March 10 Purchase 500 7.27 March 16 Purchase March 23 Purchase 840 530 7.49 7.64 Eliza sold 2,200 units of inventory during the month. What is the cost of goods sold assuming weighted-average cost? (Round the weighted-average unit cost to 4 decimals if necessary and round your final answer to nearest whole dollar.)

Inventory records for Eliza Company revealed the following: Number of Date March 1 Transaction Units Unit Cost Beginning Inventory. 1,050 $ 7.15 March 10 Purchase 500 7.27 March 16 Purchase March 23 Purchase 840 530 7.49 7.64 Eliza sold 2,200 units of inventory during the month. What is the cost of goods sold assuming weighted-average cost? (Round the weighted-average unit cost to 4 decimals if necessary and round your final answer to nearest whole dollar.)

FINANCIAL ACCOUNTING
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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Inventory records for Eliza Company revealed the following: Number of Date March 1 Transaction Units Unit Cost Beginning Inventory. 1,050 $ 7.15 March 10 Purchase 500 7.27 March 16 Purchase 840 7.49 March 23 Purchase 530 7.64 Eliza sold 2,200 units of inventory during the month. What is the cost of goods sold assuming weighted-average cost? (Round the weighted-average unit cost to 4 decimals if necessary and round your final answer to nearest whole dollar.)
Transcribed Image Text:Inventory records for Eliza Company revealed the following: Number of Date March 1 Transaction Units Unit Cost Beginning Inventory. 1,050 $ 7.15 March 10 Purchase 500 7.27 March 16 Purchase 840 7.49 March 23 Purchase 530 7.64 Eliza sold 2,200 units of inventory during the month. What is the cost of goods sold assuming weighted-average cost? (Round the weighted-average unit cost to 4 decimals if necessary and round your final answer to nearest whole dollar.)
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