Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Current Attempt in Progress The following information relates to Good Kitchen Ltd's inventory transactions during the month of March. Units Cost/Unit Amount Mar. 1 $19.00
Current Attempt in Progress The following information relates to Good Kitchen Ltd's inventory transactions during the month of March. Units Cost/Unit Amount Mar. 1 $19.00 $117,800 Beginning inventory Sale 7 6,200 4,200 2,300 12 Purchase Purchase $21.00 $21.00 $48,300 $18,900 16 900 18 Sale 27 Purchase 2,400 3,900 3,500 $26.00 $101,400 29 Sale All of the units sold were priced at $64.00 per unit. * Your answer is incorrect. Good Kitchen Ltd. uses the perpetual inventory system. Calculate Good Kitchen's cost of goods sold, gross margin, and ending inventory for the month of March using weighted-average. (Round calculations for cost per unit to 2 decimal places, e.g. 10.52 and final answers to 0 decimal places, e.g. 61,052.) Cost of Goods Sold $ 217453 Gross margin $ 428947 Ending Inventory $ 68947 e Textbook and Media
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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