Question

From the following, calculate the cost of ending inventory and cost of goods sold for the...

From the following, calculate the cost of ending inventory and cost of goods sold for the weighted-average method, ending inventory is 49 units. (Round your intermediate calculations and final answers to the nearest cent.)

Beginning inventory
and purchases
Units Unit cost
January 1 5 $ 2.00
April 10 10 2.50
May 15 12 3.00
July 22 15 3.25
August 19 18 4.00
September 30 20 4.20
November 10 32 4.40
December 15 16 4.80
Cost of ending inventory $
Cost of goods sold $

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
From the following, calculate the cost of ending inventory and cost of goods sold for the...
From the following, calculate the cost of ending inventory and cost of goods sold for the LIFO method, ending inventory is 49 units. (Round your answers to the nearest cent.) Beginning inventory and purchases Units Unit cost January 1 5 $ 2.00 April 10 10 2.50 May 15 12 3.00 July 22 15 3.25 August 19 18 4.00 September 30 20 4.20 November 10 32 4.40 December 15 16 4.80 Costs of ending inventory? Costs of goods sold?
From the following, calculate the cost of ending inventory and cost of goods sold for the...
From the following, calculate the cost of ending inventory and cost of goods sold for the LIFO method, ending inventory is 53 units. (Round your answers to the nearest cent.) Beginning inventory and purchases Units Unit cost January 1 4 $ 3.40 April 10 11 3.90 May 15 11 4.40 July 22 16 4.65 August 19 17 5.40 September 30 21 5.60 November 10 31 5.80 December 15 17 6.20 costs of ending inventory? Cost of goods sold?
Given the following data, calculate cost of goods sold and the cost of ending inventory. 3...
Given the following data, calculate cost of goods sold and the cost of ending inventory. 3 separate methods, FIFO, LIFO and Weighted Average. You must show ALL calculations. Date Transaction 1/10 Bought 200 inventory units @ $15 1/20 Bought 200 inventory units @ $17 1/25 Sold 150 inventory units @ $30 1/28 Bought 100 inventory units @ $20 1/31 Sold 120 inventory units @ $30 2/4 Bought 90 inventory units @ $21 Date ?Goods Purchased Cost of Goods sold Inventory...
Determine Colour ending inventory and cost of goods sold under the LIFO perpetual basis. Begin by...
Determine Colour ending inventory and cost of goods sold under the LIFO perpetual basis. Begin by preparing Colour perpetual inventory record under the​ last-in, first-out​ (LIFO) method for the year Transaction Units Sales in Units Unit Cost Total Cost Beginning inventory 1/1 5,500 $51 $280,500 Purchases March 30 4,500 67 301,500 July 15 850 70 59,500 September 1 6,600 Total available for sale 10,850 $641,500 Units sold September 1 (6,600) Ending inventory 4,250 LIFO: Cost of Cost of Units Unit...
M7-7 Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under...
M7-7 Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under FIFO, LIFO, and Weighted Average Cost (Periodic Inventory) [LO 7-3] Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period as if it uses a periodic inventory system. The following are the transactions for the month of July. Units Unit Cost July 1 Beginning Inventory 2,500 $ 50...
How do you calculate the cost of ending inventory and the cost of goods sold given...
How do you calculate the cost of ending inventory and the cost of goods sold given the following: Date                     Units Produced                     Cost per unit                Ending Inventory March1                 15 Xbox's 360                         $275                          2 Xbox's from March April 1                   45 Xbox's 360                          250                          15 Xbox's from April May 1                    60 Xbox's 360                         240                           12 Xbox's from May ****For cost of ending Inventory I got $7,180 for my answer, and for Cost of goods sold I keep getting $22,595 and the book says...
Using the specific identification method: a. Calculate the ending inventory. b. Calculate the cost of goods...
Using the specific identification method: a. Calculate the ending inventory. b. Calculate the cost of goods sold. Date Units purchased Cost per unit Ending inventory June 1 14 Echo Show’s 360 $ 284 4 Echo Show’s from June July 1 50 Echo Show’s 360 259 10 Echo Show’s from July August 1 68 Echo Show’s 360 249 7 Echo Show’s from August
Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale...
Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory 21 units at $1,800 May 15 Purchase 29 units at $1,950 Aug. 7 Purchase 10 units at $2,040 Nov. 20 Purchase 15 units at $2,100 There are 18 units of the item in the physical inventory at December 31. Determine the cost of ending inventory and the cost of goods sold by three methods, presenting...
Calculate cost of goods sold and ending inventory under each of the following methods given the...
Calculate cost of goods sold and ending inventory under each of the following methods given the following information about purchases and sales during the year. Jan. 1           Beginning Inventory       300 units @ $3 Jan. 5           Sales                                      100 units Jan. 15        Purchases                           400 units @ $4 Jan. 20        Sales                                      200 units a. FIFO. b. LIFO.
Given the following: Number purchased Cost per unit Total January 1 inventory 36 $ 5 $...
Given the following: Number purchased Cost per unit Total January 1 inventory 36 $ 5 $ 180 April 1 56 8 448 June 1 46 9 414 November 1 51 10 510 189 $ 1,552 a. Calculate the cost of ending inventory using the weighted-average method (ending inventory shows 57 units). (Round the "average unit cost" and final answer to the nearest cent.) b. Calculate the cost of goods sold using the weighted-average method. (Round your intermediate calculations and final...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT