Consider the following inventory transactions for September: For the month of September,the company sold 35 units.What is cost of goods sold under the weighted-average cost method (round the weighted-average unit cost to four decimals and final answer to the nearest whole dollar)?
$$\begin{array} { | l | l | }
\hline \text { Beginning inventory } & 15 \text { units } @ \$ 3.00 \
\hline \text { Purchase on September } 12 & 20 \text { units } @ \$ 3.50 \
\text { Purchased on September 23 } & 10 \text { units } @ \$ 4.00 \
\hline
\end{array}$$

Question

Consider the following inventory transactions for September: For the month of September,the company sold 35 units.What is cost of goods sold under the weighted-average cost method (round the weighted-average unit cost to four decimals and final answer to the nearest whole dollar)?
$$\begin{array} { | l | l | } 
\hline \text { Beginning inventory } & 15 \text { units } @ \$ 3.00 \
\hline \text { Purchase on September } 12 & 20 \text { units } @ \$ 3.50 \
\text { Purchased on September 23 } & 10 \text { units } @ \$ 4.00 \
\hline
\end{array}$$

Quizplus · Accepted Answer

Weighted-average unit cost = (15 x $3.00 + 20 x $3.50 + 10 x $4.00) / (15 + 20 + 10) = $3.4286Cost of goods sold = 35 units x $3.4286 = $120.00 (rounded to the nearest whole dollar)

Consider the Following Inventory Transactions for September: for the Month