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More & More Limited uses a periodic inventory system. On June 24, the company sold 600 units. The following additional inform

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Answer #1
Date Transactions Units Unit cost Total cost
June 1 Beginning Inventory 200 12 2400
June 15 Purchase 400 14 5600
June 23 Purchase 400 15 6000
1000 14,000
Weighted average cost per unit = 14000/1000 = $14
Ending inventory (400 X 14) $5,600
Cost of goods sold (600 X 14) $8,400
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