Question - A company had the following purchases and sales during its first month of operations:
January 1: Purchased 10 units at $4.00 per unit; January 9: Sold 6 units at $12.00 per unit; January 17: Purchased 8 units at $5.50 per unit; January 27: Sold 7 units at $12.00 per unit
Using the Periodic weighted average method, what is the value of cost of goods sold? (Round weighted average cost per unit to 2 decimal places.)