Homework Answers
Total units available for sale =514 units
Inventory total cost = $26,670.
Weighted average cost unit = $26,670÷514 =$51.8871
Units in ending inventory= 514-442= 72 units
Cost per unit = $51.8871
Cost of ending inventory= 72×$51.8871 =$ 3,736.
Cost of goods sold= 442×$51.8871=$22,934
(Or) Cost of goods sold = Beginning inventory+ purchases- ending inventory
=$2,688+$23,982-$3736 =$22,934.
Sales revenue = 442 × $66 =$29,172
(-) C.O.G.S = 442 × $51.8871 =($22,934 )
Gross profit = $6,238.
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pt1
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