Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
Bridgeport Ltd. had a beginning inventory on January 1 of 250 units of product SXL at a cost of $163 per unit. During the year,
Bridgeport Ltd. had a beginning inventory on January 1 of 250 units of product SXL at a cost of $163 per unit. During the year, purchases were as follows: Units 700 500 Mar, 15 July 20 Sept.4 Dec. 2 Unit Cost $151 146 135 126 Total Cost $105,700 73,000 60.750 12,600 450 100 Bridgeport uses a periodic inventory system. At the end of the year, a physical inventory count determined that there were 200 units on hand Assignment Ch 6 gestion 6 of 6 2.06/3.3 Your answer is partially correct. Determine the cost of the ending inventory and the cost of the goods sold using (1) FIFO and (2) average cost. (Do not round weighted average unit cost. Round Average answers to decimal places, eg. 5,125.) FIFO Average $ 26100 $ Ending Inventory Cost of Goods Sold $ $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started