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The following are the transactions for the month of July. ...

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Accounting

The following are the transactions for the month of July.
Units Unit Cost Unit Selling Price
July 1 Beginning Inventory 43 $ 10
July 13 Purchase 21511
July 25 Sold (100) $ 14
July 31 Ending Inventory 158
Required:
a. Calculate cost of goods available for sale and ending inventory under weighted average cost. Assume a periodic inventory system is used.
b. Calculate sales, cost of goods sold, and gross profit, under weighted average cost. Assume a periodic inventory system is used.
Calculate cost of goods available for sale and ending inventory under weighted average cost. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.)
Weighted Average (Periodic) Units Cost per Unit Total
Beginning Inventory
Purchases
Goods Available for Sale
Cost of Goods Sold
Ending Inventory
Calculate sales, cost of goods sold, and gross profit, under weighted average cost. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to the nearest whole dollar amount.)
Weighted Average (Periodic)
Sales
Cost of Goods Sold
Gross Profit

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