Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

hello. I am looking for someone who can determine the cost of the Ending inventory and the cost of goods sold using FIFO and weighted

hello. I am looking for someone who can determine the cost of the Ending inventory and the cost of goods sold using FIFO and weighted average for the following below attachments

image text in transcribed

image text in transcribed

(b) Your Answer Correct Answer (Used) During the year, The Baby Store sold the strollers for $290 per unit. Calculate the number of units sold during the year and total sales revenue. Number of units sold 440 units Sales revenue $ 127,600 Question Part Score (c) Determine the cost of the ending inventory and the cost of goods sold using (1) FIFO and (2) weighted average. (Round the weighted average cost per unit to two decimal places and final answers to 0 decimal places, e.g. 5,275.) FIFO Weighted average Cost of goods sold $ $ Ending inventory $ $ Save for Later The Baby Store had a beginning inventory on January 1 of 300 full-size strollers at a cost of $190 per unit. During the year, the following purchases were made: Units Unit Cost Mar. 15 79 $191 July 20 61 190 Sept. 4 25 188 Dec. 2 12 183 At the end of the year, there were 37 units on hand. The Baby Store uses a periodic inventory system. (a) Your Answer Correct Answer (Used) Determine the cost of goods available for sale. Cost of goods available for sale $ 90,575

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

Social Finance Shadow Banking During The Global Financial Crisis

Authors: Neil Shenai

1st Edition

3030082318, 978-3030082314

More Books

Students also viewed these Finance questions

Question

State the need for modelling a business problem.

Answered: 1 week ago

Question

Describe the importance of global talent management.

Answered: 1 week ago

Question

Summarize the environment of recruitment.

Answered: 1 week ago