Calculate ending inventory and cost of goods

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Reference no: EM13755851

Greg's Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March 2015. Greg's Bicycle Shop uses a periodic inventory system.

Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31, 2015.

Date	Transactions	Units	Cost per Unit	Total Cost
March 1	Beginning inventory	20	$160	$	3,200
March 5	Sale ($220 each)	15
March 9	Purchase	10	180		1,800
March 17	Sale ($270 each)	8
March 22	Purchase	10	190		1,900
March 27	Sale ($295 each)	12
March 30	Purchase	8	210		1,680

				$	8,580

Reference no: EM13755851

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