I just need to figure out what the moving average cost is for the ending inventory. And if you could include an explanation in how you found the average cost on the 18th that would be great because so far I have this. Just so I can understand how to determine the avg cost for a date that has both a purchase and selling of goods.
Date | Buy | COGS | UNITS | AVG Cost | Inventory Cost |
---|---|---|---|---|---|
2 | 1700*3.39 | 0 | 1700 | 3.39 | 5763 |
7 |
1200*3.39=4068 | 500 | 3.39 | 1695 | |
10 | 1100*3.62 | 1600 | 3.5481 | 5677 | |
13 | 1000*3.5481 | 600 | 3.5481 | 2129 | |
18 | 1500*3.73 | 800*? | 1300 |
W.Avg | Purchases | Cost of Goods Sold | Ending Inventory | |||||||
Quantity | Unit Cost | Amount | Quantity | Unit Cost | Amount | Quantity | Unit Cost | Amount | ||
Jan-02 | Purchase | 1700 | $ 3.39 | $ 5,763 | 1700 | $ 3.39 | $ 5,763 | |||
Jan-07 | Sales | 1200 | $ 3.39 | $ 4,068 | 500 | $ 3.39 | $ 1,695 | |||
Jan-10 | Purchase | 1100 | $ 3.62 | $ 3,982 | 500 | $ 3.39 | $ 1,695 | |||
1100 | $ 3.62 | $ 3,982 | ||||||||
Average | 1600 | $ 3.55 | $ 5,677 | |||||||
Jan-13 | Sales | 1000 | $ 3.55 | $ 3,548 | 600 | $ 3.55 | $ 2,129 | |||
Jan-18 | Purchase | 1500 | $ 3.73 | $ 5,595 | 600 | $ 3.55 | $ 2,129 | |||
1500 | $ 3.73 | $ 5,595 | ||||||||
Average | 2100 | $ 3.68 | $ 7,724 | |||||||
Jan-18 | Sales | 800 | $ 3.68 | $ 2,942 | 1300 | $ 3.68 | $ 4,782 | |||
Jan-20 | Sales | 1100 | $ 3.68 | $ 4,046 | 200 | $ 3.68 | $ 736 | |||
Jan-23 | Purchase | 1800 | $ 3.84 | $ 6,912 | 200 | $ 3.68 | $ 736 | |||
1800 | $ 3.84 | $ 6,912 | ||||||||
Average | 2000 | $ 3.82 | $ 7,648 | |||||||
Jan-26 | Sales | 1300 | $ 3.82 | $ 4,971 | 700 | $ 3.82 | $ 2,677 | |||
Jan-28 | Purchase | 2100 | $ 3.96 | $ 8,316 | 700 | $ 3.82 | $ 2,677 | |||
2100 | $ 3.96 | $ 8,316 | ||||||||
Average | 2800 | $ 3.93 | $ 10,993 | |||||||
Jan-31 | Sales | 1800 | $ 3.93 | $ 7,067 | 1000 | $ 3.93 | $ 3,926 | |||
Total | $ 30,568 | $ 26,642 | $ 3,926 |
Average Cost is calculated after every purchase.
For Jan 18, average is calculated after every purchase.
I just need to figure out what the moving average cost is for the ending inventory....
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