In: Accounting
The Stilton Company has the following inventory and credit
purchases during the fiscal year ended December 31, 2017.
Beginning | 556 units @ $93/unit | |||||
Feb. 10 | 290 units @ $90/unit | |||||
Aug. 21 | 170 units @ $103/unit | |||||
Stilton Company has two credit sales during the period. The units
have a selling price of $153 per unit.
Sales | |
Mar. 15 | 370 units |
Sept. 10 | 275 units |
Stilton Company uses a perpetual inventory system.
Required:
1. Calculate the dollar value of cost of goods sold and ending
inventory using