During the year, a retailer made the following inventory purchases: 210 units at $7.50 each,...
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Accounting
During the year, a retailer made the following inventory purchases: 210 units at $7.50 each, 240 units at $8.00 each, and 250 at $9.50 each. At year end, there are 130 units remaining in inventory. The retailer used a periodic inventory system. Using the weighted average cost formula, cost of goods sold for the year was
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