Homework Answers
Answer
Option B
$210
Explanation
Cost of goods available for sale = (15 units of opening inventory * price) + (10 units purchased on Aug. 5 * price) + (20 units purchased on Aug. 12 * price)
= (15 * $12) + (10 * $13) + (20 * $14)
= $180 + $130 + $280
= $590
Cost of goods sold = (15 units of opening inventory * price) + (10 units purchased on Aug. 5 * price) + (5 units purchased on Aug. 12 * price)
= (15 * $12) + (10 * $13) + (5 * $14)
= $180 + $130 + $70
= $380
Ending inventory is computed using the equation given below:
Ending inventory = Cost of goods available for sale - Cost of goods sold
= $590 - $380
= $210
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