Question
Jampa Company uses a periodic inventory system. For April, when the company sold 470 units, the following information is available. Units Unit Cost Total Cost
Jampa Company uses a periodic inventory system. For April, when the company sold 470 units, the following information is available.
Units | Unit Cost | Total Cost | |
April 1 inventory | 290 | $18 | $5,220 |
April 15 purchase | 400 | 22 | 8,800 |
April 23 purchase | 350 | 23 | 8,050 |
1,040 | 22,070 |
(1) Calculate weighted average cost per unit (round answer to 2 decimal places, e.g. 2.76).
Weighted average cost per unit: $_______________
(2) Compute the April 30 inventory and the April cost of goods sold using the average-cost method (round answers to 0 decimal places, e.g. 2,760)
Ending inventory: $________________
Cost of goods sold: $__________
*Please show your work and how you got your numbers. Please answer all parts. Thank you
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