Question
The X-cell Inc. company has the following purchases and sales during the year ended December 31, 2014. Inventory and Purchases Beginning: 200 units @
The X-cell Inc. company has the following purchases and sales during the year ended December 31, 2014. Inventory and Purchases Beginning: 200 units @ $20/unit February 25: 200 units @$19/unit May 17: 200 units @$17/unit Sales April 25: 200 units December 11: 200 units The units have a selling price of $25.00 per unit a) Given that X-cell Inc. employs a perpetual inventory system, calculate the cost of goods available for sale and the number of units available for sale, as well as the units remaining in ending inventory. Cost of goods available for sale: Units available for sale: Units remaining in ending inventory: b) Please fill in the table by calculating the dollar value of cost of goods sold and ending inventory, as well as the gross profit eamed by X-cell Inc. using the weighted average system. Calculate weighted average cost per unit of merchandise inventory to the nearest cent Cost of Goods Sold: Ending Inventory Gross Profit Weighted Average
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