Question

Assume that a company uses the weighted-average inventory costing method and a perpetual inventory system. Assume also a sales price to customers of S126 per unit. Company records indicate the following for the month: EEB (Click the icon to view the records.) For calculations round per unit costs to the nearest cent and all other amounts to the nearest whole dollar Calculate the cost of ending inventory. Data Table The cost of ending inventory using the weighted-average inventory costing method is $ Calculate cost of goods sold for the month Date Quantity Unit Cost Jun. 1 Balance 24 53 The cost of goods sold using the weighted-average inventory costing method is $ 6 Sale Purchase30 Sale 30 Sale Print Done Enter any number in the edit fields and then click Check Answer.

Answer 1

Answer:

Cost of ending inventory = $136

cost of goods sold = $3236

Weighted Average Inventory Cost method Goods Purchsed Cost of Goods sold Ending Inventory Date units 24 24 Jun-01 53 53.00 1272 24 53.001272 20 53.00 212 Jun-06 1060 4 53.00 4 53.00 212 70 Jun-08 30 4 53.00 212 2100 30 70.00 2312 30 68.00 Jun-17 2040 4 68.00 272 4 68.00 272 Jun-30 2 68.00 136 2 68.00 136 Totals 3236 68.00 136