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The following transactions took place in October for Roland Corporation. The opening inventory was 103 units purchased for $1

Please show all steps so I can fully understand how to solve. Thank you

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Answer #1

Answer : A = $ 7160.

Weighted Average cost per unit = [ { ( 103 - 40 ) * $ 179 } + { 67 * $ 74 } ] / ( 103 - 40 + 67 ) = $ 124.885.

Cost of goods available for sale = ( 103 * $ 179 ) + ( 67 * $ 74 ) = $ 23395.

Ending inventory = 130 * $ 124.885 = $ 16235.

Cost of Goods sold = $ 23395 - $ 16235 = $ 7160.

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