Assume that The Sock Monster, a sock store, uses the weighted-average method to account for its sock inventory. Below are the purchases in April: Beginning Inventory 50 socks at $5 each for a total of $250 April 5th purchase 30 socks at $7 each for a total of $210 April 20th purchase 20 socks at $8 each for a total of $160 Assume the Sock Monster sells 37 socks during April. What is the Sock Monster's cost of goods sold amount for April using the weighted-average method? Round ALL calculations to ONE decimal place.

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To calculate the cost of goods sold COGS for April using the weightedaverage method we need to deter... View the full answer