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20 May, 04:38

Marquis Company uses a weighted-average perpetual inventory system and has the following purchases and sales: August 2 30 units were purchased at $11 per unit. August 18 35 units were purchased at $13 per unit. August 29 32 units were sold. What is the amount of the cost of goods sold for this sale?

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  1. 20 May, 05:49
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    The amount of the cost of goods sold for this sale is $386

    Explanation:

    For computing the cost of goods sold, first, we have to find out the per unit of the cost which is shown below:

    Per unit of cost = (Total purchase cost) : (total units purchased)

    where,

    Total purchased units = Number of units * purchase price per unit + Number of units * purchase price per unit

    = 30 units * $11 + 35 units * $13

    = $330 + $455

    = $785

    And, the total units purchased equal to

    = 30 units + 35 units

    = 65 units

    Now put these values to the above formula

    So, the per unit would equal to

    = $785 : 65 units

    = $12.07 per unit

    So, the cost of goods sold equal to

    = Number of units sold * per unit

    = 32 units * $12.07 per unit

    = $386.46
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