A company had the following purchases and sales during its f…
A company had the following purchases and sales during its first month of operations: Date Activities Units Acquired at Cost Units Sold at Retail January 1 Purchase 10 units @ $4.00 = $40.00 January 9 Sales 6 units @ $12.00 January 17 Purchase 8 units @ $5.50 = $44.00 January 27 Sales 7 units @ $12.00 Using the Periodic weighted average method, what is the value of cost of goods sold? Note: Round weighted average cost per unit to 2 decimal places.