Question

A company uses the periodic inventory system and had the following activity during the current monthly...

A company uses the periodic inventory system and had the following activity during the current monthly period.

November 1:

Beginning inventory

110 Units @ $10

November 5:

Purchased

110 Units @ $26

November 8:

Purchased

60 Units @ $25

November 16:

Sold

166 Units @ $95

November 19:

Purchased

65 Units @ $20


Using the weighted-average inventory method, the company's ending inventory would be:

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Cost of Ending Inventory = $3506.61

Calculation:

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A company uses the periodic inventory system and had the following activity during the current monthly...
A company uses the periodic inventory system and had the following activity during the current monthly period. November 1: Beginning inventory 109 Units @ $20 November 5: Purchased 109 Units @ $22 November 8: Purchased 59 Units @ $23 November 16: Sold 162 Units @ $90 November 19: Purchased 60 Units @ $25 Using the weighted-average inventory method, the company's ending inventory would be:
Alpha Company uses the periodic inventory system and had the following inventory & sales activity for...
Alpha Company uses the periodic inventory system and had the following inventory & sales activity for the month of May 2016: (Round all per unit calculations to the nearest penny.) Date    Activity    Quantity    Unit Price May 1 Beginning Inventory 100 $10.10 May 5    Purchase 200    $11.00 May 15    Purchase    300 $13.00 May 25    Purchase 150 $15.00 Sales were 500 units Ending units $250. Using weighted-average method, determine the dollar values following for...
Easton Company uses the periodic inventory system and had the following inventory & sales activity for...
Easton Company uses the periodic inventory system and had the following inventory & sales activity for the month of May 2019: Date Activity Quantity Unit Price 5/1 Beginning Inventory 100 $10 5/5 Purchase 210 $12 5/15 Purchase 300 $14 5/25 Purchase 320 $16 Sales were 460 units at $20. Using the FIFO method, determine the dollar value of Cost of Goods Sold for the month of May.
Easton Company uses the periodic inventory system and had the following inventory & sales activity for...
Easton Company uses the periodic inventory system and had the following inventory & sales activity for the month of May 2019: Date Activity Quantity Unit Price 5/1 Beginning Inventory 150 $10 5/5 Purchase 160 $12 5/15 Purchase 330 $14 5/25 Purchase 290 $16 Sales were 420 units at $20.  Using the FIFO method, determine the dollar value of Cost of Goods Sold for the month of May.
Easton Company uses the periodic inventory system and had the following inventory & sales activity for...
Easton Company uses the periodic inventory system and had the following inventory & sales activity for the month of May 2019: 5/1 Beginning Inventory QTY: 125 Unit Price: $10 5/5 Purchase QTY: $225 Unit Price: $12 5/15 Purchase QTY: $250 Unit Price: $14 5/25 Purchase QTY: $250 Unit Price: $16 Sales were 560 units at $20. Using the LIFO method, determine the dollar value of Cost of Goods Sold for the month of May.
Inventory Costing Methods-Periodic Method Merritt Company uses the periodic inventory system. The following May data are...
Inventory Costing Methods-Periodic Method Merritt Company uses the periodic inventory system. The following May data are for an item in Merritt's inventory: May 1 Beginning inventory 310 units @ $30 per unit 12 Purchased 260 units @ $35 per unit 16 Sold 340 units @ 24 Purchased 160 units @ $36 per unit Calculate the cost of goods sold for May and ending inventory at May 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods....
Beta company uses the periodic inventory system. The beginning balance of inventory and subsequent inventory purchases...
Beta company uses the periodic inventory system. The beginning balance of inventory and subsequent inventory purchases made by the company during the month of July 2019 are given below: July 01: Beginning inventory, 500 units @ $20 per unit. July 18: Inventory purchased, 800 units @ $24 per unit. July 25: Inventory purchased, 700 units @ $26 per unit. The Beta company sold 1,600 units during the month of July. Required: Compute the cost of goods sold and ending inventory...
A company sells 1,900 units during the year.  In addition, the company uses a periodic inventory system,...
A company sells 1,900 units during the year.  In addition, the company uses a periodic inventory system, has a beginning inventory of 600 units that were purchased at $10 per unit, and has the following purchases and sales.  What is the company's cost of goods sold if it uses the LIFO method? Date     Units purchased Cost per unit January 1,000 $11 May 900 $12 October 700 $14
Vaughn uses the periodic inventory system. For the current month, the beginning inventory consisted of 7300...
Vaughn uses the periodic inventory system. For the current month, the beginning inventory consisted of 7300 units that cost $14 each. During the month, the company made two purchases: 3000 units at $15 each and 12200 units at $15.50 each. Vaughn also sold 12900 units during the month. Using the average cost method, what is the amount of cost of goods sold for the month? $199600. $187500. $193500. $192855. Carla Company uses a periodic inventory system. For April, when the...
THE Company employs a periodic inventory system and sells its inventory to customers for $10 per...
THE Company employs a periodic inventory system and sells its inventory to customers for $10 per unit. THE Company had the following inventory information available for the month of May: May 1 Beginning inventory 280 units @ $3.80 cost per unit May 6 Purchased 350 units @ $4.90 cost per unit May 8 Purchased 240 units @ $4.10 cost per unit May 14 Sold 410 units May 19 Purchased 400 units @ $5.75 cost per unit May 23 Sold 270...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT