Question
Calculating Weighted-Average Cost Inventory Values The Brattle Corporation began operations in 2018. Information relating to the companys purchases of inventory and sales of products for
Calculating Weighted-Average Cost Inventory Values The Brattle Corporation began operations in 2018. Information relating to the companys purchases of inventory and sales of products for 2018 and 2019 is presented below. 2018 March 1 Purchase 220 units @ $12 per unit June 1 Sold 120 units @ $25 per unit September 1 Purchase 100 units @ $15 per unit November 1 Sold 130 units @ $25 per unit 2019 March 1 Purchase 70 units @ $16 per unit June 1 Sold 80 units @ $30 per unit September 1 Purchase 100 units @ $18 per unit November 1 Sold 90 units @ $35 per unit
2018 | ||||||
---|---|---|---|---|---|---|
March 1 | Purchase | 220 | units | @ | $12 | per unit |
June 1 | Sold | 120 | units | @ | $25 | per unit |
September 1 | Purchase | 100 | units | @ | $15 | per unit |
November 1 | Sold | 130 | units | @ | $25 | per unit |
2019 | ||||||
---|---|---|---|---|---|---|
March 1 | Purchase | 70 | units | @ | $12 | per unit |
June 1 | Sold | 80 | units | @ | $25 | per unit |
September 1 | Purchase | 100 | units | @ | $15 | per unit |
November 1 | Sold | 90 | units | @ | $25 | per unit |
Calculate the weighted-average cost of goods sold and ending inventory for 2018 and 2019 assuming use of (a) the periodic method and (b) the perpetual method.
a. Weighted-Average Periodic. Do not round your cost per unit. Do not round until your final answer. Round your answers to the nearest whole number.
2018
Cost of goods sold __________?
Ending inventory __________?
2019
Cost of goods sold __________?
Ending inventory __________?
b. Weighted-Average Perpetual. Do not round your cost per unit. Do not round until your final answer. Round your answers to the nearest whole number.
2018
Cost of goods sold __________?
Ending inventory __________?
2019
Cost of goods sold __________?
Ending inventory __________?
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