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Telamark Company uses the moving weighted average method for inventory costing. Required: The following incomplete inventory sheet regarding Product W506 is available for the
Telamark Company uses the moving weighted average method for inventory costing. Required: The following incomplete inventory sheet regarding Product W506 is available for the month of March 2020. Complete the invento sheet. (Use the value of the ending inventory as your base number and adjust the COGS $ amount to the required amount to make the Total Goods Available for Sale to the total of the Value of the ending inventory and the COGS total. Negative value should be indicated with minus sign. Round your intermediate and final answers to 2 decimal places.) Purchases/Transportation-In/ (Purchase Returns/Discounts) Cost of Goods Sold/(Returns to Balance in Inventory Inventory) Date Units Cost/Unit Total $ Units Cost/Unit Total $ Units Avg. Cost/Unit Total $ Mar 1 69 Brought Forward $ 6,486.00 69 $ 94.00 $ 6,486.00 2 44 $ 96.00 4,224.00 3 31 4 (11) 7 56 17 49 97.00 4,753.00 52 28 Total 162 Goods Available for Sale. $15,463.00 128 Goods Sold $ 12,218.00 Ending Inventory $ 3,245.30
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