Third Avenue Furniture began June with merchandise inventory of 45 sofas that cost a total of $31,500.During the month,the company purchased and sold merchandise on account as follows:

Prepare a perpetual inventory record,using the weighted-average inventory costing method,and determine the company's cost of goods sold,ending merchandise inventory,and gross profit.(Round weighted-average cost per unit to the nearest cent and all other amounts to the nearest dollar. )
| Purchases | Cost of Goods Sold | Inventory on Hand |

Question

Third Avenue Furniture began June with merchandise inventory of 45 sofas that cost a total of $31,500.During the month,the company purchased and sold merchandise on account as follows:
  
Prepare a perpetual inventory record,using the weighted-average inventory costing method,and determine the company's cost of goods sold,ending merchandise inventory,and gross profit.(Round weighted-average cost per unit to the nearest cent and all other amounts to the nearest dollar. )
| Purchases | Cost of Goods Sold | Inventory on Hand |

Quizplus · Accepted Answer

The Answer of Third Avenue Furniture began June with merchandise inventory of 45 sofas that cost a total of $31,500.During the month,the company purchased and sold merchandise on account as follows:
  
Prepare a perpetual inventory record,using the weighted-average inventory costing method,and determine the company's cost of goods sold,ending merchandise inventory,and gross profit.(Round weighted-average cost per unit to the nearest cent and all other amounts to the nearest dollar. )
| Purchases | Cost of Goods Sold | Inventory on Hand |

Third Avenue Furniture Began June with Merchandise Inventory of 45