Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Wildhorse Company uses a periodic inventory system. For April, when the company sold 570 units, the following information is available. Units Unit Cost Total Cost

Wildhorse Company uses a periodic inventory system. For April, when the company sold 570 units, the following information is available.

Units Unit Cost Total Cost

April 1 inventory 250 $28 $ 7,000

April 15 purchase 350 34 11,900

April 23 purchase 400 36 14,400

1,000 $33,300

Calculate weighted average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.)

Weighted average cost per unit

$enter weighted average cost per unit in dollars rounded to 2 decimal places

Compute the April 30 inventory and the April cost of goods sold using the average-cost method. (Round answers to 0 decimal places, e.g. 2,760.)

Ending inventory

$enter the ending inventory in dollars rounded to 0 decimal places

Cost of goods sold

$enter the cost of goods sold in dollars rounded to 0 decimal places

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles

Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell

14th Edition

1119707110, 978-1119707110

More Books

Students also viewed these Accounting questions

Question

1. What does this mean for me?

Answered: 1 week ago