Answered step by step
Verified Expert Solution
Question
1 Approved Answer
During the year, Trombley Incorporated has the following inventory transactions. Nuber of Unita 24 Coat 626 25 24 22 Total Cost G 624 725
During the year, Trombley Incorporated has the following inventory transactions. Nuber of Unita 24 Coat 626 25 24 22 Total Cost G 624 725 816 748 Date Teansantion Jan. 1 Beginning inventory Mar. 4 Purcbane Jun. 9 Purchase Nov.11 Purchase 29 34 34 121 $2,913 For the entire year, the company sells 90 units of inventory for $34 each. 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 2 decimal places and all other answers to the nearest whole number.) Cost of Goods Sold-Weighted Ending Inventory -Weighted Average Cost of Goods Available for Sale Average Cost Cost Weighted Average Cost Average Cost of Goods of units Cost per Available for Sale t of units Sold Average Cost per Unit Cost of Goods Sold # of units Average in Ending Cost per Inventory Ending Inventory unit unit Beginning inventory Purchases: 24 624 Mar 4 29 725 Jun.9 34 816 Nov. 11 34 748 Total 121 %24 2,913 90 S 34.00 S 2,913 Sales revenue Gross profit
Step by Step Solution
★★★★★
3.53 Rating (160 Votes )
There are 3 Steps involved in it
Step: 1
Trombley Incorporated Weighted Average Cost of goods available for sale Units AvgCost ...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