accountancy

moving weighted method

Test 2 Savod Telamark Company uses the moving weighted average method for inventory costing. 2 Required: The following incomplete inventory sheet regarding Product W506 is available for the month of March 2020. Complete the inventory sheet. (Use the value of the ending inventory as your base number and adjust the COGS $ amount to the required amount to make the Total Goods Available for Sale to the total of the Value of the ending inventory and the COGS total. Negative value should be indicated with minus sign. Round your intermediate and final answers to 2 decimal places.) 5 points 8 01:25:38 Purchases/Transportation-In/ (Purchase Returns/Discounts) Cost of Goods Sold/(Returns to Inventory) Balance in Inventory Date Units Cost/Unit Total $ Units Cost/Unit Total Units Total 5 Avg Cost/Unit 93.00 Mar 1 70 S S 6,510.00 Brought Forward 45 $ 2. 95.00 3 32 4 7 (12) 55 17 50 98.00 28 53 Totals Goods Available for Sale Goods Sold Ending Inventory Note: March 4 reflects a return made by a customer of incorrect items shipped on March 3: these items were returned to inventory Analysis Component: The gross profit realized on the sale of Product W506 during February 2020 was 36.61%. The selling price was $158 during both February and March. Calculate the gross profit ratio for Product W506 for March 2020 and determine whether the change is favorable or unfavorable from February. (Round your intermediate calculations and final answer to 2 decimal places.) Gross profit ratio % Telamark Company uses the moving weighted average method for inventory costing. 2 Required: The following incomplete inventory sheet regarding Product W506 is available for the month of March 2020. Complete the inventory sheet. (Use the value of the ending inventory as your base number and adjust the COGS S amount to the required amount to make the Total Goods Available for Sale to the total of the Value of the ending inventory and the COGS total. Negative value should be indicated with minus sign. Round your intermediate and final answers to 2 decimal places.) 5 points 8 01:25.01 Purchases/Transportation In/ (Purchase Returns/Discounts) Cost of Goods Sold/(Returns to Inventory) Balance in Inventory Date Units Cost/Unit Total S Units Cost/Unit Totals Units Total S Avg Cost/Unit 93.00 5 Mar 1 Brought Forward 45 $ 70 $ 6,510.00 2 95.00 3 4 32 (12) 55 7 17 50 98.00 531 28 Totals Goods Available for Sale Goods Sold Ending Inventory Note: March 4 reflects a return made by a customer of incorrect items shipped on March 3: these items were returned to inventory Analysis Component: The gross profit realized on the sale of Product W506 during February 2020 was 36.61%. The selling price was $158 during both February and March. Calculate the gross profit ratio for Product W506 for March 2020 and determine whether the change is favorable or unfavorable from February (Round your intermediate calculations and final answer to 2 decimal places.) Gross profit ratio %