Calculate the cost of goods sold and the cost of the ending inventory using the weighted average
Question:
Calculate the cost of goods sold and the cost of the ending inventory using the weighted average cost flow assumption. Assume periodic record keeping.
Sales ...............150 units at $5 per unit
Beginning inventory .........100 units at $2 per unit
Purchases .............. 60 units at $3 per unit
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...
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Weighted average cost 238 380 160 Cost of goods sold 356 150 x 238 End...View the full answer
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Related Book For 
Financial Accounting: A Business Process Approach
ISBN: 978-0136115274
3rd edition
Authors: Jane L. Reimers
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