Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 6-9 Moving weighted average cost flow assumption-perpetual LO2, 3 Telamark Company uses the moving weighted average method for inventory costing. Required: The following

image text in transcribedimage text in transcribed

Exercise 6-9 Moving weighted average cost flow assumption-perpetual LO2, 3 Telamark Company uses the moving weighted average method for inventory costing. Required: The following incomplete inventory sheet regarding Product W506 is available for the month of March 2023. Complete th sheet. (Use the value of the ending inventory as your base number and adjust the COGS $ amount to the required am make the Total Goods Available for Sale to the total of the Value of the ending inventory and the COGS total. Negative should be indicated with minus sign. Round your intermediate and final answers to 2 decimal places.) Purchases/Transportation-In/ (Purchase Returns/Discounts) Cost of Goods Sold/(Returns to Inventory) Balance in inventory Date Units Cost/Unit Total S Units Cost/Unit Total $ Units Avg Cost/Unit Total $ Mar 1 64 Brought Forward $ 5,952.00 64 $ 93.00 $ 5,952.00 2 39 $ 95.00 3,705.00 103 93.76 9,657.00 347 26 93.76 2,437.76 77 93.76 7,219 24 (6) 93.76 562.56 83 93.76 7,782.08 61 93.76 5,719.36 22 93.76 2,062.72 17 44 98.00 4,312.00 66 96.59 6,374.72 28 47 96.59 4,539.73 19 96.59 1,834.99 Totals 147 Goods Available for Sale $13,969.00 Goods Sold $ 12,134.29 19 Ending Inventory $ 1,834.99 Note: March 4 reflects a return made by a customer of incorrect items shipped on March 3; these items were returned inventory. Analysis Component: The gross profit realized on the sale of Product W506 during February 2023 was 34.21%. The selling price was $152 durin February and March. Calculate the gross profit ratio for Product W506 for March 2023 and determine whether the chang favourable or unfavourable from February. (Round your intermediate calculations and final answer to 2 decimal places. Gross profit ratio %

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial and Managerial Accounting

Authors: Horngren, Harrison, Oliver

3rd Edition

978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978

More Books

Students also viewed these Accounting questions

Question

What is the purpose of the journal wizard?

Answered: 1 week ago

Question

=+ What are the undesirable consequences?

Answered: 1 week ago