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Problem VII: (8 pts) Talley Inc. has the following information available for October: Units 30 Cost per unit $120 $100 Total Cost $3,600 7,000 Date
Problem VII: (8 pts) Talley Inc. has the following information available for October: Units 30 Cost per unit $120 $100 Total Cost $3,600 7,000 Date Oct 1 Oct 7 Oct 10 Oct 25 Oct 31 70 Beginning inventory Purchase Sale Purchase Sale (75) 95 (80) $130 12,350 Required: Compute the cost of goods sold and the cost of ending inventory, respectively, assuming the perpetual weighted-average method. Only the answers in the spaces will be graded. Clearly show calculations below or on scrap paper to receive partial credit. Important: For the perpetual weighted-average" calculations, round per unit costs to the nearest penny. Perpetual Weighted-Average Cost of Goods Sold Cost of Ending Inventory Accounting Check: Do your two answers add up to the total cost of goods available for sale? Space for calculations: (add space or paper if necessary)
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