Question
Given the purchases below and ending inventory of 630, determine the cost of goods sold using the weighted-average method. # of units purchased Cost per
Given the purchases below and ending inventory of 630, determine the cost of goods sold using the weighted-average method.
|
| # of units purchased | Cost per unit | Total cost |
|---|---|---|---|
| Beginning inventory | 170 | $2.80 | $476 |
| July 1 purchase | 540 | $3.30 | 1,782 |
| October 9 purchase | 380 | $3.65 | 1,387 |
| Goods available for sale | 1,090 |
| $3,645 |
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Auditing Cases An Interactive Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
6th edition
133852105, 978-0133852103
