Question
During the year ended December 31, 2019, Blake Company sold 12,000 cases of Product T for $120,000. Facts related to its beginning inventory and purchases
During the year ended December 31, 2019, Blake Company sold 12,000 cases of
Product T for $120,000. Facts related to its beginning inventory and purchases are as
follows:
January 1 Beginning inventory 5,000 cases @ $4.00
February 10 Purchase 3,000 cases @ $5.00
April 23 Purchase 8,000 cases @ $4.50
August 5 Purchase 2,000 cases @ $5.00
For the year ended December 31, 2019, compute:
Total Goods Available for Sale in units:
Total Goods Available for Sale in $:
The number of units in ending inventory:
The average cost of one case of Product T:
The value of the ending inventory using the average cost method:
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Managerial Accounting Creating Value in a Dynamic Business Environment
Authors: Ronald Hilton, David Platt
10th edition
78025664, 978-0078025662
