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Dannys YoYos sells high quality yoyos. The inventory, purchases, and sales for a recent month in chronological order are as follows: Date Activities Units Acquired

Dannys YoYos sells high quality yoyos. The inventory, purchases, and sales for a recent month in chronological order are as follows:

Date

Activities

Units Acquired and Sold

Oct 1

Beginning inventory

100 units @ $5.50 per unit

Oct 4

Sales

20 units

Oct 7

Purchase

165 units @ $5.95 per unit

Oct 10

Sales

180 units

Oct 16

Purchase

40 units @ $6.25 per unit

Oct 28

Sales

50 units

Assume that Dannys YoYos uses a perpetual inventory system.

Requirements

  1. Compute cost of goods available for sale and the number of units available for sale.
  2. Compute the number of units in ending inventory.
  3. Compute the cost assigned to ending inventory using:
  1. Weighted average (step-by-step using table)

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