Martin Corp. began the year with 2,000 units of inventory

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Question

Martin Corp. began the year with 2,000 units of inventory that had been purchased for $6 per unit. During the

year, 5,000 units were purchased for $8 each and 8000 units for $10 each. Martin sold 9000 units during the year for $15  each. The company uses the weighted average cost method.

Compute cost of goods sold expense.

Compute the gross profit ratio.

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