O 1 2 C D E H M N Chapter 6 In Class Perpetual Inventory - Weighted Average Cost Use the same information in the previous quesition, answer based on weighted average cost method. Round to two decimal points. Date Purchases Sales (at Cost) Inventory Balance Weighted Average Calculations Units Unit Cost Total Cost Units Unit Cost COGS Units Unit Cost Total Cost Units Unit Cost Per Unit Jan. 1 3 4 5 6 Feb. 13 7 8 9 Feb. 15 10 11 12 Aue, 5 13 14 15 AUR 10 10 12 16 Total 19 Cost of Goods Available for Sale COGS 20 Ending inventory Aug 10 Accounts Recewable 67,500 2 135 units X $500 each 67,500 23 Sales Cost of Goods Sold Inventor 24 2 Perpetual Perpetual WAC Periodico Periodic WAC M N 122 H A C D E F G Chapter 6 In Class Perpetual Inventory - FIFO 2 Inventory Balance Sales (at Cost) Date Purchases COGS Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Mason Sports Supplies Company uses a perpetual 4 Inventory system. The company has the following 5 Information: Jan. 1 6 Feb. 13 7 Date Explanation Units Unit Cost Total Costs 500 Ilan 1 Beginning 9 Feb 13 Purchase $304 309 $152.000 Feb. 15 92,700 300 Aug. 5 (450) 900 312 280.800 10 Feb 15 Sales 13 Aug5 Purchase 12 Aug 10 Sales 13 (135) 525,500 Aug. 10 14 Total 151. Calculate the cost of goods sold 16 and ending inventorying to 111. lournalue the sales on Aug. 10 15 we the sales price is no each unit 15 cost of Goods Available for Sale COGS Ending Inventory hg 10 21 Porto Perpetual WAC Proacto Drode WC 1 A - 2 B M N C D F E G H Chapter 6 In Class Perpetual Inventory - Weighted Average Cost Use the same information in the previous quesition, answer based on weighted average cost method. Round to two decimal points. Date Purchases Sales (at Cost) Inventory Balance Weighted Average Calculations Units Unit Cost Total Cost Units Unit Cost COGS Units Unit Cost Cost Total Cost Units Unit Cost Per Unit San. 1 3 4 5 6 Feb. 13 7 B 9 Feb. 15 10 11 12 Aurs 13 14 15 Aut10 16 1 Total 10 Cost of Goods Available for Sale COGS 20 Ending inventory 21 10 Accounts Receivable 67,500 22 135 units X S500 each 2 67,500 Cost of Goods sold Inventory 24 25 Perpetual Perpal WAC Denodico Periodic WAC A B CD Chapter 6 In Class Periodic Inventory - FIFO a. Cost of goods available for sale: Units Unit Cost Total Cost Cookie Cutters Company uses the periodic 4 Inventory system. All purchases and sales are on 5 account. The accounting records of Cookie Cutters 6 show the following data: 7 Beginning Purchase Purchase Available for sale for the month 8 Date 9 June 1 Explanation Units Unit cost Total Beginning 600 $405 $243,000 Purchase 345 $416 $143,520 Sales 10 June 13 11 June 20 (250) 12 June 27 Purchase Number of units sold: Total units available Units on hand Units sold 460 $420 $193,200 500 b. Ending inventory: 13 14 The physical inventory count at June 30 15 showed 500 units on hand. 16 17. Determine the cost of goods available for sale 18 and the number of units sold, 19/b. Calcutate ending inventory and cost of goods sold. Assume the Comparvy uses FIFO. 21 Units Unit Cost Total Cost 20 22 23 Cost of goods sold - Cost of Goods Available for Sale - Ending inventory Cost of goods available Ending inventory Cost of goods sold 24 26 21 Perpetual Perpetual WAC Perindi FIFO Periodic WAC + 16 Units Average cost Total Cost 18 17 a. Determine the cost of goods available for sale and the number of units sold. 19 b. Calculate ending inventory and cost of goods sold. Assume the Company uses weighted average cost. 21 Rounded to two decimal points. 20 Cost of goods sold = Cost of Goods Available for Sale - Ending inventory Cost of goods available Ending inventory Cost of goods sold 23 24 26 20 30 11 13 Pergo Perpetual WAC Penodig Perlogic WAC