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Triplex Company has a fiscal year end on December 31. The company has only one product in inventory, and all units of that product are
Triplex Company has a fiscal year end on December 31. The company has only one product in inventory, and all units of that product are identical (homogenous). The opening balance unit price is $10 per unit. Complete the following schedule to calculate the value of ending inventory using the weighted-average cost method under the perpetual inventory system. Then calculate the cost of goods sold for the year 2018. Calculate the cost of goods sold.
Triplex Company has a fiscal year end on December 31. The company has only one product in inventory, and all units of that product are identical (homogenous). The opening balance unit price is $10 per unit. Complete the following schedule to calculate the value of ending inventory using the weighted average cost method under the perpetual inventory system. Then calculate the cost of goods sold for the year 2018. Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. Date Purchases Sales Quantity Cost Balance Quantity Value Quantity Cost $ Jan 10 100 1000 $ Feb 22 19 $11.00 119 1209 $ Mar 10 35 $13.00 1541664 $ Apr 27 32 $10.81 1221318 $ Jul 25 25 $15.00 147| 1693 $ Sep 25 21 $11.52 126|1451 $ Nov 18 11 $11.52 1151324 Required Calculate the cost of goods sold. Cost of Goods Sold = $Step by Step Solution
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