Question

Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases...

Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2020 as follows:

Jan. 1 Beginning inventory 130 units @ $ 8.00 = $ 1,040.00
Jan. 10 Sold 60 units @ $ 16.50 = 990.00
Mar. 7 Purchased 400 units @ $ 7.30 = 2,920.00
Mar. 15 Sold 120 units @ $ 16.50 = 1,980.00
July 28 Purchased 650 units @ $ 7.10 = 4,615.00
Oct. 3 Purchased 600 units @ $ 7.00 = 4,200.00
Oct. 5 Sold 870 units @ $ 16.50 = 14,355.00


Assume that Car Armour specifically sold the following units:

Jan. 10: 60 units from beginning inventory
Mar. 15: 30 units from beginning inventory, and
90 units from the March 7 purchase
Oct. 5: 350 units from the July 28 purchase, and
520 units from the October 3 purchase


Calculate cost to be assigned to ending inventory and cost of goods sold. (Round your final answers to 2 decimal places.)

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