What is the Cost of Goods Sold for the Mar 17th sale under MWA inventory costing?

Mar 1st beginning inventory 5 units at $30 per unit

Mar 3rd sold 3 units

Mar 6th purchased inventory 30 units at $40 per unit

Mar 17th sold 20 units

Mar 23rd purchased inventory 25 units at $50 per unit

Mar 31st sold 30 units

Required: Use the information above to answer the questions below for First In First Out (FIFO) and Moving Weighted Average (MWA) inventory costing methods.

ROUND ALL ANSWERS TO 2 DECIMAL PLACES

What is the Cost of Goods Sold for the Mar 17th sale under MWA inventory costing?

Solutions

Expert Solution

Cost of Goods Sold for March 17th sale under Moving Average Cost Method:

20 units x $39.375 = $787.50

Cost of goods sold = $787.50

ekkarill92 answered 1 year ago

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