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Problem 6-4AA Periodic: Alternative cost flows LO P3 Montoure Company uses a periodic inventory system. It...

Problem 6-4AA Periodic: Alternative cost flows LO P3

Montoure Company uses a periodic inventory system. It entered into the following calendar-year purchases and sales transactions.
  

Date Activities Units Acquired at Cost Units Sold at Retail
Jan. 1 Beginning inventory 600 units @ $45.00 per unit
Feb. 10 Purchase 400 units @ $42.00 per unit
Mar. 13 Purchase 200 units @ $27.00 per unit
Mar. 15 Sales 800 units @ $75.00 per unit
Aug. 21 Purchase 100 units @ $50.00 per unit
Sept. 5 Purchase 500 units @ $46.00 per unit
Sept. 10 Sales 600 units @ $75.00 per unit
Totals 1,800 units 1,400 units

  
Required:
1. Compute cost of goods available for sale and the number of units available for sale.
  

Solutions

Expert Solution

Units

Cost per unit

value

Beginning Balance

600

$            45.00

$       27,000.00

Purchases

10-Feb

400

$            42.00

$       16,800.00

13-Mar

200

$            27.00

$         5,400.00

21-Aug

100

$            50.00

$         5,000.00

5-Sep

500

$            46.00

$       23,000.00

1800

$    77,200.000

Cost of goods available for sale=$77,200

Units available for sale= 1800

ekkarill92 answered 1 year ago
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