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Periodic System-Calculating Ending Inventory and Cost of Sales Using Average Cost The following information is available for Willow Inc. Date Beg Inventory January 11
Periodic System-Calculating Ending Inventory and Cost of Sales Using Average Cost The following information is available for Willow Inc. Date Beg Inventory January 11 Purchases: Units Unit Cost 180 $50.00 January 10 135 52.00 January 15 270 52.50 January 30 180 55.00 The company maintains a periodic inventory system. A physical inventory count shows 225 units in inventory on January 31. What is (a) ending inventory on January 31, and (b) cost of goods sold for January, using the average-cost method? Computation of Weighted Average Unit Cost Numerator Denominator Unit costs Result Note: Use the result EXACTLY as displayed above in the calculations below. Note: Do not use negative signs with any of your answers. Note: Round your final answers to the nearest whole dollar. Cost of goods available for sale S Ending Inventory Cost of goods sold
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