Question
The Exergy Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020 Beginning 633 units @ $76/unit Feb 10
The Exergy Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020
| Beginning | 633 units @ $76/unit |
| Feb 10 | 345 units @ $73/unit |
| Aug 21 | 225 units @ $86/unit |
Exergy Company has two credit sales during the period.The units have a selling of $136 per unit.
| Sales | |
| Mar 15 | 425 units |
| Sep 10 | 330 units |
Exergy Company uses a perpetual inventory system
Required:
- Calculate the dollar value of cost of goods sold and ending inventory using (Do not round intermediate calculations. Round Average cost per unit to 2 decimal places. Round the final answers to 2 decimal places.)
Ending Inventory | Cost of Goods Sold | ||
a. | FIFO | ||
b. | Moving Weighted Average |
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
