Knowledge Check

Given the following information, compute the cost of ending inventory and cost of goods sold under the average$-$

cost method. $($Round weighted$-$average unit cost to $2$ decimal places and final answers to $0$ decimal

places.$)$

Blossom Appliances

Washer Hoses

Step $1$

Ending Inventory

Total Cost

$

Ending Inventory Units

Total Units

Unit Cost

$$$

Weighted$-$Average Unit Cosi

$=$$

Total Cost

$=$$

Step $2$

Cost of Goods Sold

Cost of goods available for sale

Less: Ending inventory

Cost of goods sold