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