The following information is provided by Ivory Co. for the month of July: Date Units Unit Cost July 1 Beginning inventory 420 $16 18 Purchase 500 24 25 Purchase 390 34 Total 1,310 $74 Ivory sold 640 units in July. Calculate the cost of goods sold and the ending inventory for the month of July using the weighted average cost method. Round Weighted Average Cost per Unit to nearest dollar. a. Cost of goods sold is $15,360, and ending inventory is $16,080. b. Cost of goods sold is $6,582, and ending inventory is $26,799. c. Cost of goods sold is $7,021, and ending inventory is $26, 263. d. Cost of goods sold is $16,676, and ending inventory is $14,472.

Definition Definition Structural system an enterprise uses to collect, store, report, retrieve, and process financial data. Accounting information systems are used by business analysts, auditors, accountants, and consultants for accurate and efficient access to financial data.