Question

During 2021, a company sells 460 units of inventory for $90 each. The company has the following Inventory purchase transactio
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Weighted Average cost per unit = Total cost / Total unit

= $41929/527 = $79.5617 per unit

Cost of goods sold = 460*79.5617 = $36598

Ending inventory = 41929 -36598 = $5331

Add a comment
Know the answer?
Add Answer to:
During 2021, a company sells 460 units of inventory for $90 each. The company has the...
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. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • During 2021, a company sells 490 units of inventory for $90 each. The company has the...

    During 2021, a company sells 490 units of inventory for $90 each. The company has the following inventory purchase transactions for 2021: Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 79 $ 70 $ 5,530 May 5 Purchase 264 71 18,744 Nov. 3 Purchase 188 73 13,724 531 $ 37,998 Calculate cost of goods sold and ending inventory for 2021 assuming the company uses the weighted-average cost method. (Round weighted-average unit cost to 4 decimal...

  • 23 During 2021, a company sells 470 units of inventory for $93 each. The company has...

    23 During 2021, a company sells 470 units of inventory for $93 each. The company has the following inventory purchase transactions for 2021 Number of Units 80 267 Unit Cost $ Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov.) Purchase 8 points 30 82 Total Cost $ 6,320 21,360 15,334 $43,014 Calculate cost of goods sold and ending inventory for 2021 assuming the company uses the weighted average cost method. (Round weighted average unit cost to 4 decimal...

  • During 2021, a company sells 25 units of inventory. The company has the following inventory purchase...

    During 2021, a company sells 25 units of inventory. The company has the following inventory purchase transactions for 2021 Date Transaction Jan.1 Beginning inventory Sep.8 Purchase Number Unit of Units Cost 20 $50 Total Cost $1,000 700 $1,700 70 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses the weighted average cost method. (Round weighted average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.) Ending inventory Cost of...

  • During 2021, a company sells 364 units of inventory for $94 each. The company has the...

    During 2021, a company sells 364 units of inventory for $94 each. The company has the following inventory purchase transactions for 2021: Number of Units Date Transaction Jan.1 Beginning inventory May 5 Purchase Nov. 3 Purchase 166 Unit Cost Total Cost $67 $ 4,087 11, 454 13,536 $29,077 69 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses LIFO. Ending inventory Cost of goods sold < Prev 16 of 40 Next > MacBook Air

  • During 2021, a company sells 20 units of inventory. The company has the following inventory purchase...

    During 2021, a company sells 20 units of inventory. The company has the following inventory purchase transactions for 2021 Date Transaction Jan. 1 Beginning inventory Sep.8 Purchase Number of Units 15 10 25 Unit Cost Total Cost $50 $ 750 94 $1,690 940 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses the weighted average cost method. (Round weighted-average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.) Ending...

  • 6) During 2021, a company sells 400 units of inventory for $85 each. The company has...

    6) During 2021, a company sells 400 units of inventory for $85 each. The company has the following inventory purchase transactions for 2021: Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase Number of Units Unit Cost Total Cost 60 S70 S4.200 1801 721 12.960 1901 7 51 14.250 430 $31.410 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO Calculate ending inventory and cost of goods sold for 2021 assuming...

  • 22 During 2021, a company sells 356 units of inventory for $88 each. The company has...

    22 During 2021, a company sells 356 units of inventory for $88 each. The company has the following inventory purchase transactions for 2021 Number Unit Date Transaction of Units Cost Total Cost Jan. 1 Beginning inventory 63 566 May 5 Purchase 161 es 10,948 Nov.) Purchase 180 71 12,700 M 8 DO 2224 Calculate ending Inventory and cost of goods sold for 2021 assuming the company uses UFO Ending inventory Cost of goods sold

  • 24 During 2021, a company sells 340 units of inventory for $85 each. The company has...

    24 During 2021, a company sells 340 units of inventory for $85 each. The company has the following inventory purchase transactions for 2021 Unit Cost $66 Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase Number of Units 66 170 186 422 8 points Total cost $ 4,356 11,390 12,834 $28,580 69 02:13:19 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO. Ending inventory Cost of goods sold

  • During 2021, a company sells 21 units of inventory. The company has the following inventory purchase...

    During 2021, a company sells 21 units of inventory. The company has the following inventory purchase transactions for 2021 Number Unit Total Date Jan. 1 Beginning inventory Sep. 8 Purchase Transaction of Units Cost $54 Cost 14 $ 756 840 $1,596 15 56 29 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO Ending inventory Cost of goods sold Next> < Prev 20 of 40 to search DELL

  • During 2021, a company sells 160 units of inventory for $55 each. The company has the...

    During 2021, a company sells 160 units of inventory for $55 each. The company has the following inventory purchase transactions for 2021: Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 58 $ 40 $ 2,320 May 5 Purchase 107 39 4,173 Nov. 3 Purchase 75 38 2,850 240 $ 9,343 Actual sales by the company include its entire beginning inventory, 87 units of inventory from the May 5 purchase, and 15 units from the November...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT