Please do not give solution in image format thanku Marin Company uses a perpetual inventory system. Beginning inventory is 3,900 T-shirts at a cost $2.50 per shirt. During the yearMarin had the following inventory transactions:Jan. 12 PurchasedFeb. 18 SoldJuly 1Aug. 29 SoldDec. 19Purchased(a)PurchasedAll purchases and sales are on account.Calculate the cost of goods sold and ending inventory using weighted average. (Round the weighted average cost per unit to 2 decimalplaces, e.g. 15.25 and final answers to 0 decimal places, e.g. 5,275.)Weighted averageCost of goods soldEnding inventory780 units@ 2.15 per unit2,050 units@6.50 per unit2.400 units@ 2.65 per unit2,150 units@ 7.50 per unit780 units @3.05 per unitSave for Later$Attempts: 0 of 1 used Submit Answer

Name: Please do not give solution in image format thanku Marin Company uses
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Please do not give solution in image format thanku Marin Company uses a perpetual inventory system. Beginning inventory is 3,900 T-shirts at a cost $2.50 per shirt. During the yearMarin had the following inventory transactions:Jan. 12 PurchasedFeb. 1

The inventory can be valued using various method as FIFO, LIFO and average method. The average cost…

Business

Accounting

Marin Company uses a perpetual inventory system. Beginning inventory is 3,900 T-shirts at a cost $2.50 per shirt. During the year Marin had the following inventory transactions: Jan. 12 Feb. 18 Purchased 780 units Sold 2,050 units 2,400 units 2,150 units 780 units Dec. 19 July 1 Aug. 29 Sold Purchased Purchased @ 2.15 per unit @6.50 per unit @ 2.65 per unit @7.50 per unit @3.05 per unit