Inventory records for Dunbar Incorporated revealed the following: Dunbar sold 700 units of inventory during the month.Cost of goods sold assuming weighted-average cost would be (round weighted-average unit cost to four decimals and final answer to the nearest whole dollar):
$$\begin{array} { | l | l | c | r | }
\hline \text { Date } & \text { Transaction } & \text { Number of Units } & \text { Unit Cost } \
\hline \text { Apr. 1 } & \text { Beginning inventory } & 500 & \$ 2.40 \
\text { Apr. 20 } & \text { Purchase } & 400 & 2.50 \
\hline
\end{array}$$

Question

Inventory records for Dunbar Incorporated revealed the following: Dunbar sold 700 units of inventory during the month.Cost of goods sold assuming weighted-average cost would be (round weighted-average unit cost to four decimals and final answer to the nearest whole dollar):
$$\begin{array} { | l | l | c | r | } 
\hline \text { Date } & \text { Transaction } & \text { Number of Units } & \text { Unit Cost } \
\hline \text { Apr. 1 } & \text { Beginning inventory } & 500 & \$ 2.40 \
\text { Apr. 20 } & \text { Purchase } & 400 & 2.50 \
\hline
\end{array}$$

Quizplus · Accepted Answer

Weighted-average unit cost = (500 x $2.40 + 400 x $2.50) / (500 + 400) = $2.45Cost of goods sold = 700 x $2.45 = $1,715

Inventory Records for Dunbar Incorporated Revealed the Following: Dunbar Sold