Question
Number of Unit Date Jan. 1 May. 5 Nov. 3 Transaction Units Cost Total Cost Beginning inventory 50 $ 64 $ 3,200 Purchase Purchase
Number of Unit Date Jan. 1 May. 5 Nov. 3 Transaction Units Cost Total Cost Beginning inventory 50 $ 64 $ 3,200 Purchase Purchase 290 67 19,430 240 72 580 17,280 $39,910 Calculate ending inventory and cost of goods sold for the year, assuming the company uses weighted-average cost. (Round your average cost per unit to 4 decimal places.) Weighted Average Cost # of units Cost per Cost of Goods Available for Sale Average Cost of Goods Available for Cost of Goods Sold - Weighted Average Cost Ending Inventory - Weighted Average Cost unit Sale # of units Average Cost Cost of Goods sold per Unit Sold # of units in ending inventory Average Cost per unit Ending Inventory Beginning Inventory 50 $ 3,200 Purchases: May 5 Nov.3 Total 290 19,430 240 17,280 580 $ 39,910 550 $ 0.00 $ 0.00
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started