Shellhammer Company's Inventory Records Show the Following Data for the Month

question 113

Essay

Shellhammer Company's inventory records show the following data for the month of September: $$\begin{array} { l c c } & \underline { \text { Units} } & \underline { \text { Unit Cost } } \\\text { Inventory, September 1 } &100& \$ 3.34 \\\text { Purchases: September 8 } & 450 & 3.50 \\\quad\quad\quad\quad\quad\text { September 18 }& 350 & 3.70\end{array}$$
A physical inventory on September 30 shows 200 units on hand. Calculate the value of the ending inventory and cost of goods sold if the company uses weighted average inventory costing and a periodic inventory system. Round cost per unit to 2 decimal places and ending inventory and cost of goods sold to the nearest dollar.

---

Definitions:

Infringement Lawsuits

Legal actions initiated against individuals or entities for violating intellectual property rights or agreements.

Invention

The development of a new product or the first implementation of a process.

Government Protection

Measures undertaken by governments to safeguard industries, workers, consumers, or the environment from harm or unfair practices.

Technological Advance

The development and application of new technologies and processes that improve efficiency, productivity, or bring new products to the market.