Question

Calculate the cost of goods sold and ending inventory using weighted average. (Round the weighted average cost per unit to 2 decimal places, e.g. 5.25 and final answers to 0 decimal places, e.g. 5,250.) Purchases Cost of Goods Sold Balance Date Units Cost Total Units Cost Total Units Cost Total Units Total Cost WA Cost Per unit Apr-01 Beginning Inventory 26 $11 $286 26 $11 $286 Apr-15 52 $13 $676 $ $ 26 $286 52 $676 $ $ Apr-20 29 $ $ $ $ 78 $962 -29 $357.57 $ $ Apr-23 47 $14 $658 96 $ $ 49 $604.43 47 $658 $ $ Apr-28 54 $ $ 42 $ $ 96 $1,262.43 -54 $710.10 42 $ $ 125 $1,620 83 $ 42 $552.33 LINK TO TEXT

Answer 1

Answer)

Calculation of Cost of goods sold and value of ending inventory using Weighted Average Method

Date	Purchase	Cost of goods sold	Balance Inventory
Quantity	Cost per Unit (In $)	Total Cost (In $)	Quantity	Cost per Unit (In $)	Total Cost (In $)	Quantity	Cost per Unit (In $)	Total Cost (In $)
Apr'1							26	11.00	286.00
Apr'15	52	13.00	676.00				26	11.00	286.00
							52	13.00	676.00
							78	12.33	962.00
Apr'20				29	12.33	357.67	49	12.33	604.33
Apr'23	47	14.00	658.00				49	12.33	604.33
							47	14.00	658.00
							96	13.15	1,262.33
Apr'28				54	13.15	710.06	42	13.15	552.27
Total	99		1,334.00	83		1,067.73	42		552.27

Weighted Average Method:

Cost of goods sold = $ 1,068 (rounded off)

Value of ending inventory = $ 552 (rounded off)