Question
1) Corp starts its life in FY2021 and makes the following Inventory purchases: Date # of Units Unit Cost Total Cost 1/1/21 50 $72 $3,600
1) Corp starts its life in FY2021 and makes the following Inventory purchases:
Date | # of Units | Unit Cost | Total Cost |
1/1/21 | 50 | $72 | $3,600 |
5/5/21 | 200 | $75 | $15,000 |
11/3/21 | 150 | $80 | $12,000 |
Total | 400 | $30,600 |
During FY2021, MattCorp sold 380 units for $100 each, on these dates:
Date | # of Units |
4/1/21 | 35 |
9/18/21 | 145 |
11/7/21 | 200 |
Total | 380 |
What is Corp's Cost of Goods Sold for the year using Specific Identification?
A. None of the other answers
B. 29,160
C. 29,050
D. not enough info
E. 29k
2) Corp starts its life in FY2021 and the following Inventory purchases:
Date | # of Units | Unit Cost | Total Cost |
1/1/21 | 50 | $72 | $3,600 |
5/5/21 | 200 | $75 | $15,000 |
11/3/21 | 150 | $80 | $12,000 |
Total | 400 | $30,600 |
During FY2021,Corp sold 380 units for $100:
Date | # of Units |
4/1/21 | 35 |
9/18/21 | 145 |
11/7/21 | 200 |
Total | 380 |
What's Corp's Cost of Goods Sold for the year using Weighed-Average Cost?
A. | $29,033.15 | |
B. | None of the other answers | |
C. | $28,608.00 | |
D. | $29,086.82 | |
E. | $29,070.00 |
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