Problem 6-63A Inventory Costing Methods

Anderson's Department Store has the following data for inventory, purchases, and sales of merchandise for December for one of the items the company sells:

Activity	Units		Purchase Price (per unit)		Sale Price (per unit)
Beginning inventory	10		$6.00
Purchase 1, Dec. 2	22		6.80
Purchase 2, Dec. 5	26		7.50
Sale 1, Dec. 7	19				$12.00
Sale 2, Dec. 10	25				12.00
Purchase 3, Dec. 12	12		8.00
Sale 3, Dec. 14	20				12.00

Anderson's uses a perpetual inventory system. All purchases and sales were for cash.

Required:

1. Compute cost of goods sold and the cost of ending inventory using the weighted average cost method. (Note: Use four decimal places for per-unit calculations and round all other numbers to the nearest penny.)

Cost of goods sold	$
Cost of ending inventory	$