Marquis Company uses a weighted-average perpetual inventory system and has the following purchases and sales: August 2 30 units were purchased at $11 per unit. August 18 35 units were purchased at $13 per unit. August 29 32 units were sold. What is the amount of the cost of goods sold for this sale?

The amount of the cost of goods sold for this sale is $386

Explanation:

For computing the cost of goods sold, first, we have to find out the per unit of the cost which is shown below:

Per unit of cost = (Total purchase cost) : (total units purchased)

where,

Total purchased units = Number of units * purchase price per unit + Number of units * purchase price per unit

= 30 units * $11 + 35 units * $13

= $330 + $455

= $785

And, the total units purchased equal to

= 30 units + 35 units

= 65 units

Now put these values to the above formula

So, the per unit would equal to

= $785 : 65 units

= $12.07 per unit

So, the cost of goods sold equal to

= Number of units sold * per unit

= 32 units * $12.07 per unit

= $386.46