Question

During 2021, a company sells 20 units of inventory. The company has the following inventory purchase transactions for 2021 Date Transaction Jan. 1 Beginning inventory Sep.8 Purchase Number of Units 15 10 25 Unit Cost Total Cost $50 $ 750 94 $1,690 940 Calculate ending inventory and cost of goods sold for 2021 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.) Ending inventory Cost of goods sold

Answer 1

Answer- Ending inventory = $338.

Cost of goods sold = $1352.

Explanation-

Weighted Average cost Method
Goods purchased			Cost of goods sold			Inventory balance
Date	# of units	Cost per unit	# of units sold	Cost per unit	Cost of goods sold	# of units	Cost per unit	Inventory balance
2021
Jan-01						15	50	750
Sep-08	10	94				15	50	750
						10	94	940
Average Cost						25	67.60	1690
Dec-31			20	67.60	1352	5	67.60	338
Totals $			20		1352	5		338