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Mily corporation uses the weighted average inventory method

Question: Mily Corporation uses the Weighted Average inventory method. The Company has the following inventory items and costs for the Period. Beginning inventory of 3 units purchased for dollar4, 100 each. January 20, purchase 2 units for dollar4, 200 each. February 3, purchase 3 units for dollar4, 300 each. February 14, sold 5 units for dollar5, 600 each

1. How many units does the company have in inventory at the end of the quarter on March 31?

2. What is the total cost of the units in inventory at March 31?

3. What is the total Sales for the quarter ending March 31?

4. What is the Cost of Goods Sold for the quarter ending March 31?

5. What is Gross Margin for the quarter ending March 31?

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Accounting Basics: Mily corporation uses the weighted average inventory method

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