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Required information [The following information applies to the questions displayed below.] The following are the transactions...

Required information

[The following information applies to the questions displayed below.]

The following are the transactions for the month of July.

Units Unit Cost Unit Selling Price
July 1 Beginning Inventory 54 $ 10
July 13 Purchase 270 12
July 25 Sold (100 ) $ 16
July 31 Ending Inventory 224

Calculate cost of goods available for sale and ending inventory, then 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 nearest whole dollar amount.)

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Periodic Weighted Average No. of Units Cost per unit Total
Beginning Inventory            54.00              10.00       540.00
Purchased on Jul 13          270.00              12.00 3,240.00
Goods available for sale          324.00              11.67 3,780.00
Cost of Goods sold          100.00 1,167.00
Ending Inventory          224.00 2,614.00

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