The Griggs Company is a multi-product firm. Presented below is
information concerning one of their products for the year.
Date
Activity
Units Purchased
Cost/Unit
Total Cost
January 1
BI
1,000
$12
$12,000
February 4
Purchase
2,000
$18
$36,000
February 20
Sale
2,500
$23
$57,500 ($57,500 / 2,500 = $23)
April 20
Purchase
3,000
22
$66,000
November 14
Sale
2,000
???? (give formula, not just answer)
???? (give formula, not just answer)
Instructions:
Determine both Ending Inventory (EI) and Cost of...