Question
Fill in the missing amounts for items (a) through (o) as well as a1 through m1 in the following perpetual inventory records: Calculate the cost
Fill in the missing amounts for items (a) through (o) as well as a1 through m1 in the following perpetual inventory records: Calculate the cost of goods sold and ending inventory using weighted average. (Round the weighted average cost per unit to 2 decimal places, e.g. 5.25 and final answers to O decimal places, e.g. 5,250.) Date Apr-01 Units Purchases Cost Total Units Beginning Inventory 29 $15 $435 Apr-15 52 $17 $884 Apr-20 Apr-23 Apr-28 46 46 $18 $828 Cost of Goods Sold Cost Total 34 $ $ 53 $ CA 127 $2,147 87 $ Calculate the cost of goods sold and ending inventory using FIFO. (HINT: Use two rows to show your cost of goods sold calculation in layers) Date Units Purchases Cost Cost of Goods Sold Total Units Cost Total Apr-01 Beginning Inventory 29 $15 $435 Apr-15 52 $17 $884 Apr-20 Apr-23 46 $18 $828 Apr-28 29 5 CA $ CA $ LA $ $ 47 $ FA $ 6 127 $2,147 87 Which method gives the highest COGS? Why? LA $ (A $ $ Calculate the cost of goods sold and ending inventory using FIFO. (HINT: Use two rows to show your cost of goods sold calculation in layers) ids Sold Total CA $ $ $ LA Units 29 229 29 Inventory Balance Cost $15 $15 $ $ 40 40 fA $ Which method gives the highest COGS? Why? 40 GA $ LA $ $ CA $ $ CA $ $ Total $435 435 $720
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