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Calculate cost of goods sold for march

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Reference no: EM132993603

Marvellous Man Corp. entered into the following inventory-related transactions, listed in date order:

1 March: opening balance: 40 chairs, all bought on 28 February at R20 each.

10 March: 20 chairs were bought at R28 each.

15 March: 80 chairs were bought at R32 each.

21 March: 70 chairs were sold.

Problem 1: Using the Weighted Average formula, calculate:

a) Cost of goods sold for March: 

b) Inventory balance as at 31 March: 

Reference no: EM132993603

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