Humphrey Co. has the following data related to an item of inventory: Inventory, March 1...
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Humphrey Co. has the following data related to an item of inventory: Inventory, March 1 400 units @ $2.10 Purchase, March 7 1,400 units @ $2.20 Purchase, March 16 280 units @ $2.30 Inventory, March 31 520 units What is the value assigned to cost of goods sold (COGS) if Humphrey uses weighted average cost? Round intermediate calculations to 2 decimals; round final response to whole dollars. Show all work and label your numbers.
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