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Gregs Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March 2012: Date Transactions Units Cost per
Gregs Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March 2012: |
Date | Transactions | Units | Cost per Unit | Total Cost |
March 1 | Beginning inventory | 20 | $197 | $3,940 |
March 5 | Sale ($301 each) | 15 | ||
March 9 | Purchase | 10 | 209 | 2,090 |
March 17 | Sale ($369 each) | 8 | ||
March 22 | Purchase | 10 | 245 | 2,450 |
March 27 | Sale ($362 each) | 12 | ||
March 30 | Purchase | 8 | 247 | 1,976 |
$10,456 | ||||
rev: 4_24_12
16. Award:0 out of 10.00 points
Show correct answerRequired: | |
1. | Calculate ending inventory and cost of goods sold at March 31, 2012, using the specific identification method. The March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 purchase.(Omit the "$" sign in your response.) |
Ending inventory | $n/r |
Cost of goods sold | $n/r |
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