Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed

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.) Cost of Goods Purchases Sold Balance Total WA Cost Per Date Units Cost Total Units Cost Total Units Cost Total Units Cost unit Beginning Inventory $11 $220 $220 20 $11 $ $13 $676 $ $220 $676 $ $ 25 $ $ $ $ 72 -25 25 $896 $311.00 $ $11.99 $ $ 45 $14 $630 92 $ $ 47 45 43 559$630 $585.00 $630 $ $ 54 $ $ 38 $ $ 92 $1,215.00 -54 $713.34 $ 38 $ 117 $1,526 79 $ 38 $501.66 Calculate the cost of goods sold and ending inventory using FIFO. (HINT: Use two rows to show your cost of goods sold calculation in layers) Purchases Cost of Goods Sold Inventory Balance Date Units Cost Total Units Cost Total Units Cost Total

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accountability Of Local Authorities In England And Wales, 1831-1935 Volume 1

Authors: Hugh Coombs, J. R. Edwards

1st Edition

1138965758, 9781138965751

More Books

Students also viewed these Accounting questions

Question

Are summer stipends available?

Answered: 1 week ago

Question

7. What are the main provisions of the FMLA?

Answered: 1 week ago

Question

2. Do small companies need to develop a pay plan? Why or why not?

Answered: 1 week ago