The Xu Corporation uses a periodic inventory system. The company has a beginning inventory of 470 units at $5 each on January 1. Xu purchases 415 units at $4 each in February and 115 units at $6 each in March. There were no additional purchases or sales during the remainder of the quarter.

Xu sells 320 units during the quarter. If Xu uses the weighted-average method, what is its cost of goods sold for the first quarter?

Answer rating: 100% (QA)

To calculate the cost of goods sold COGS using the weightedaverage method we need to find the weight... View the full answer