Question
In: Accounting
Weighted-average Ending Merchandise Inventory _______________ Cost of Goods Sold ________________ Could you please fill in the...
Weighted-average Ending Merchandise Inventory _______________ Cost of Goods Sold ________________ Could you please fill in the blank?
What is the weighted average?
Jul. 1
Beginning merchandise inventory
6 units @ $60 each
Jul. 8
Purchase
5 units @ $67 each
Jul. 15
Purchase
10 units @ $70 each
Jul. 26
Purchase
5 units @ $85 each
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Calculate the cost of goods sold and ending inventory using weighted average. (Round the weighted average...
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...
Calculate cost of ending inventory and cost of goods sold using periodic FIFO, LIFO, and Weighted...
Calculate cost of ending inventory and cost of goods sold
using periodic FIFO, LIFO, and Weighted Average Cost methods.
Description # of units Cost per unit
Beginning inventory: 20 20
Jan.15 Purchase: 22 27
Jan. 20 Sale 10 blank
Jan.25 Purchase 18 25
Jan.28 Sale 15 blank
Brief Exercise 6-7 Calculate ending inventory and cost of goods sold using weighted-average cost (LO6-3) During...
Brief Exercise 6-7 Calculate ending inventory and cost of goods
sold using weighted-average cost (LO6-3)
During the year, Wright Company sells 470 remote-control
airplanes for $110 each. The company has the following inventory
purchase transactions for the year.
Date
Transaction
Number of Units
Unit Cost
Total Cost
Jan. 1
Beginning inventory
60
$
82
$
4,920
May. 5
Purchase
250
85
21,250
Nov. 3
Purchase
200
90
18,000
510
$
44,170
Calculate ending inventory and cost of goods sold for...
Computing Cost of Goods Sold and Ending Inventory UnderFIFO, LIFO, and Average CostAssume that...
Computing Cost of Goods Sold and Ending Inventory Under
FIFO, LIFO, and Average CostAssume that Madden Company reports the following initial balance
and subsequent purchase of inventory.Inventory balance at beginning of year 1,560 units @ $150 each
$234,000Inventory purchased during the year 2,040 units @ $180 each
367,200Cost of goods available for sale during the year 3,600 units
$601,200Assume that 2,400 units are sold during the year. Compute the
cost of goods sold for the year and the inventory on...
Inventory data are presented below. Please calculate the ending inventory and the cost of goods sold...
Inventory data are presented below. Please calculate the ending
inventory and the cost of goods sold (at 1/31) using the methods
listed below.
1/1 - Beginning inventory 6 units at $5
1/10 - Purchase
11 units at $6
1/15 - Sale 13 units
1/20 -
Purchase
15 units at $7
1/25 - Sale
11 units
Inventory
Cost of
Goods Sold
Periodic FIFO a) $__________ b) $__________
Periodic LIFO c) $__________ d) $__________
Periodic Weighted Average e) $__________...
Computing Cost of Goods Sold and Ending Inventory Under FIFO, LIFO, and Average Cost Assume that...
Computing Cost of Goods Sold and Ending Inventory Under
FIFO, LIFO, and Average Cost
Assume that Madden Company reports the following initial balance
and subsequent purchase of inventory.
Inventory balance at beginning of year
1,820
units @ $150 each
$273,000
Inventory purchased during the year
2,380
units @ $180 each
428,400
Cost of goods available for sale during the year
4,200
units
$701,400
Assume that 2,800 units are sold during the year. Compute the
cost of goods sold for the...
Calculate the cost of goods sold and the cost of ending inventory using the FIFO, LIFO, and average cost methods.
Inventory Costing Methods: Periodic Inventory Systems. (Appendix
6B)Tyler Company has the following information related to purchases
and sales of one of its inventory items.DateDescriptionUnits Purchased at
CostUnits Sold at
RetailSept. 1Beginning inventory20 units @ $510Purchase30 units @ $820Sales40 units @ $1525Purchase25 units at $10Assume that the company uses the periodic inventory system.Required:Calculate the cost of goods sold and the cost of ending
inventory using the FIFO, LIFO, and average cost methods.
(Note: Use four decimal places for per-unit calculations
and...
Alamo company has sales, cost of goods sold, and average ending inventory for the current year...
Alamo company has sales, cost of goods sold, and
average ending inventory for the current year in the following
amounts: $650,000, $500,000,and $128,000,respectively. calculate
the amount of the company's inventory turnover for the year. what
is the company's average number of days to sell inventory
From the following, calculate the cost of ending inventory and cost of goods sold for the...
From the following, calculate the cost of ending inventory and
cost of goods sold for the weighted-average method, ending
inventory is 56 units. (Round your intermediate
calculations and final answers to the nearest cent.)
Beginning inventory
and purchases
Units
Unit cost
January 1
6
$
2.70
April 10
9
3.20
May 15
13
3.70
July 22
14
3.95
August 19
19
4.70
September 30
19
4.90
November 10
33
5.10
December 15
15
5.50
cost of ending inventory?
Cost of...
From the following, calculate the cost of ending inventory and cost of goods sold for the...
From the following, calculate the cost of ending inventory and
cost of goods sold for the LIFO method, ending inventory is 54
units. (Round your answers to the nearest cent.)
Beginning inventory
and purchases
Units
Unit cost
January 1
6
$
1.00
April 10
9
1.50
May 15
13
2.00
July 22
14
2.25
August 19
19
3.00
September 30
19
3.20
November 10
33
3.40
December 15
15
3.80
Cost of ending inventory
$
Cost of goods sold
$
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