Earnings on pooled investments and changes in fair value of investments are allocated to the participants having an equity interest in the pool in proportion to their relative contributions to the pool.1. true2. false

Ending inventory = $227

Cost of good sold = $1,333

Explanation:

Note: The data in the question are merged together and they are first sored before answering the question as follows:

Date    Transaction               Number of Units   Unit Cost   Total Cost

Jan. 1    Beginning inventory       20                       $55          $1,100

Sep. 8   Purchase                         10                          26              260

Total                                              30                                        $1,360

The explanation to the answers are now as follows:

Weighted cost per unit = $1,360/30 = $45.3333

Ending inventory =  (30 - 25) * $45.3333 = $227

Cost of good sold = 25 * $45.3333 = $1,333