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Inventory Costing Methods and the Periodic Method Kay & Company experienced the following events in March:
Date Event Units Unit Cost Total Cost
Mar. 1Purchased i..0 @$16 $1,600
Mar. 3Sold inventory 60
Mar. 15Purchased i..0 @18 $1,800
Mar. 20Sold inventory 40
Problem 1: If Kay & Company uses the weighted-average cost method, calculate the company's cost of goods sold and ending inventory as of March 31 assuming the periodic method.
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