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Empire Stores experienced a computer malfunction that accidently wiped out some of the inventory details for the month of January. Management was able to partially
Empire Stores experienced a computer malfunction that accidently wiped out some of the inventory details for the month of January. Management was able to partially reconstruct the following spreadsheet for the month of January inventory transactions: Empire uses the perpetual inventory system and the weighted average cost flow assumption for valuing inventory. All units sold in January were priced at $76.00/unit. Calculate amounts for (a) through (p) to Assist Empire's management by completing the table. (Round calculations for cost per unit to 4 decimal places, eg. 10.5264 and other answers to O decimal places, eg. 61,052) Date Jan 1 Beginnig Inventory. 3 Sale Units 8.400 Cost/Unit $29,80 (7,800 ) (c) $29.80 $ 13 Purchase 4,300 $32.50 4,900 S (P) 17 Purchase 800 $37.50 5.700 S (f) 27 Sale (3.700) 2,000 $32.9175 29 Purchase (0 $39.90 4,600 $ ( 31 Sale (K) Totals 1.500 536.8640 $ Amor Empire Stores experienced a computer malfunction that accidently wiped out some of the inventory details for the month of January. Management was able to partially reconstruct the following spreadsheet for the month of January inventory transactions: Empire uses the perpetual inventory system and the weighted average cost flow assumption for valuing inventory. All units sold in January were priced at $76.00/unit. Calculate amounts for (a) through (p) to Assist Empire's management by completing the table. (Round calculations for cost per unit to 4 decimal places, eg. 10.5264 and other answers to O decimal places, eg. 61,052) 29.80 Amount $250,320 $ 29.80 $ (d) 32.50 $139.750 (e) $157,630 37.50 $30,000 (f) $187,630 COGS (a) $ Sales (b) $ (s) (h) 9175 39.90 $65,835 $103,740 ( $169.575 $ (1) $ (m) 8640 $ (n) (0) (p) Using the information in the completed table. (Round calculations for cost per unit to 4 decimal places, eg. 10.5264 and other answers to O decimal places, eg. 61,052) L Determine the value of weighted average cost of goods sold. ii. Determine the value of ending inventory. IIL Determine the gross margin Weighted average cost of goods sold $ Ending inventory $ Gross margin $ Question Part Score: --/1.5
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