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The Following Data Are Available for the Month of March March 1 balance\text {March 1 balance}

Question 84

Essay

The following data are available for the month of March: March 1 balance\text {March 1 balance} 20\quad 20 units at $15 each\text {units at \(\$ 15\) each}
March 10 purchase\text {March 10 purchase} 40\quad 40 units at $16 each\text {units at \(\$ 16\) each}
March 17 purchase\text {March 17 purchase} 30\quad 30 units at $17.50 each\text {units at \(\$ 17.50\) each}
March 30 purchase \text {March 30 purchase } 25\quad 25 units at $18 each\text {units at \(\$ 18\) each} On March 31, 35 units are on hand.
Calculate cost of goods sold under the following methods:
a)FIFO b)weighted-average (round per unit cost to the nearest cent, round final answer to the nearest dollar, assume periodic inventory system)

Correct Answer:

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115 units available - 35 ending units = ...

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