Question
The following information relates to an inventory item of Industry Chemical Pty Ltd during April 2023 Date Explanation Quantity (Pack) Unit cost 1 Beginning Inventory
The following information relates to an inventory item of Industry Chemical Pty Ltd during April 2023
| Date | Explanation | Quantity (Pack) | Unit cost | |
| 1 | Beginning Inventory | 160 | $15 | |
| 3 | Purchased | 180 | $16 | |
| 17 | Purchased | 220 | $18 | |
| Cost of Goods Available for Sale | 560 |
During the period sold 400 units for $30 each.
Determine the cost of ending inventory, the cost of sales and profit, using Weighted Average valuation method.
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Cost Accounting And Financial Management For Construction Project Managers
Authors: Len Holm
1st Edition
1138550655, 978-1138550650
