Marquis Company uses a weighted$-$average perpetual inventory system and has the following purchases and sales:

Date Activities Units Acquired at Cost Units Sold at Retail

August $2$ Purchase $10$ units @ $$48=$ $$480$

August $18$ Purchase $15$ units @ $$50=$ $$750$

August $29$ Sales $12$ units sold

What is the amount of the cost of goods sold for this sale? $($Round average cost per unit to $2$ decimal places.$)$

Answer rating: 100% (QA)

To calculate the cost of goods sold for the sale on August 29 we need to use t... View the full answer