Question
Carla Vista Co. uses a periodic inventory system. Its records show the following for the month of April, with 27 units on hand at April
Carla Vista Co. uses a periodic inventory system. Its records show the following for the month of April, with 27 units on hand at April 30:
Units | Unit Cost | Total Cost | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
April 1 | Inventory | 29 | $9 | $261 | ||||||||||
12 | Purchases | 50 | 12 | 600 | ||||||||||
16 | Purchases | 16 | 10 | 160 | ||||||||||
Total | 95 | 1,021 |
Calculate the ending inventory and cost of goods sold at April 30 using the FIFO and weighted average cost formulas. (Round the weighted average cost per unit to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 5,275.)
FIFO | Weighted average | |||
---|---|---|---|---|
Ending Inventory | $enter a dollar amount | $enter a dollar amount | ||
Cost of Goods Sold | $enter a dollar amount | $enter a dollar amount |
Prove the cost of goods sold calculations. (Round the average cost per unit to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 5,275.)
Check of Cost of Goods Sold (FIFO): | ||||||
---|---|---|---|---|---|---|
Units | Unit Cost | Total Cost | ||||
Apr. 1 | enter a number of units | $enter a dollar amount | $enter a dollar amount | |||
Apr. 12 | enter a number of units | enter a dollar amount | enter a dollar amount | |||
enter a total number of units | $enter a total amount |
Weighted Average
Check of Cost of Goods Sold: enter a number of units $enter a dollar amount per unit = $enter a total amount |
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