Answer:
Ending inventory [14 x $189.39] | $2,651.46 |
Cost of goods sold [35 x $189.39] | $6,628.65 |
Calculations:
Under weighted average method and Period inventory system,
Units | x | Cost/unit | = | Total | |
March 1 Beginning | 20 | x | $170 | = | $3,400 |
March 9 purchases | 10 | x | $190 | = | $1,900 |
March 22 purchases | 10 | x | $200 | = | $2,000 |
March 30 purchases | 9 | x | $220 | = | $1,980 |
Total cost of goods available for sale | 49 | $9,280 |
Weighted average cost per unit = $9,280/49 units = $189.39
Total number of units available for sale | 49 |
Total units sold [15+8+12] | -35 |
Ending inventory | 14 |
.
Ending inventory [14 x $189.39] | $2,651.46 |
Cost of goods sold [35 x $189.39] | $6,628.65 |
[The following information applies to the questions displayed below.) Greg's Bicycle Shop has the following transactions...
Required information [The following information applies to the questions displayed below.) Greg's Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March. Greg's Bicycle Shop uses a periodic inventory system. Date Transactions Units Unit Cost Total Cost March 1 Beginning inventory 20 $170 $3,400 March 5 Sale ($240 each) 15 March 9 Purchase 10 190 1,900 March 17 Sale ($290 each) В March 22 Purchase 10 200 2,000 March 27 Sale ($315...
Help Save [The following information applies to the questions displayed below.) Greg's Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March. Greg's Bicycle Shop uses a periodic inventory system. Unit Cost $170 Total Cost $3,400 Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 Transactions Beginning inventory Sale ($240 each) Purchase Sale ($290 each) Purchase Sale ($315 each) Purchase Units 20 15 10 8 10...
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Hup of 7 Required information [The following information applies to the questions displayed below.) Greg's Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March. Greg's Bicycle Shop uses a periodic inventory system. Date Transactions Units Unit Cost Total Cost March Beginning inventory 20 $170 March 5 Sale ($240 each) 15 March 9 Purchase 1,900 March 17 Sale ($290 each) March 22 Purchase 10 2,000 Sale ($315 each) March 30 Purchase 1,980...
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Required information The following information applies to the questions displayed below.] Greg's Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March. Greg's Bicycle Shop uses a periodic inventory system. Unit Cost $250 Total Cost Units Transactions Date $ 5,000 March Маrch 20 Beginning inventory Sale ($400 each) 1 15 2,700 270 10 Purchase March March 17 March 22 8 10 Sale ($450 each) Purchase 2,800 28о 12 Sale ($475 each) March...
Required information [The following information applies to the questions displayed below.) Greg's Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March. Greg's Bicycle Shop uses a periodic inventory system, Unit Cost $170 Total Cost $3,400 Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 Transactions Beginning inventory Sale ($240 each) Purchase Sale ($290 each) Purchase Sale (5315 each) Purchase Units 20 15 10 8 10...
So . Required information [The following information applies to the questions displayed below.) Greg's Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the March. Greg's Bicycle Shop uses a periodic Inventory system. Date T ransactions Units Unit Coat Total Cost March1 Beginning inventory 20 $230 $4,600 March 5 Sale $360 each) March 9 Parehase March 17 Sale ($410 each) March 22 Purchase March 27 Sale ($435 each) March 30 Purchase 250 (543s each) 260...
Required information [The following information applies to the questions displayed below. Greg's Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March. Greg's Bicycle Shop uses a periodic inventory system. Date Transactions Units Unit Cost March Total Cost 1 Beginning inventory 20 March 5 $170 Sale ($240 each) $3,400 15 March Purchase 10 190 1,900 March 17 Sale ($290 each) B March 22 Purchase 10 March 27 Sale (5315 each) 2,000 Purchase...
(The following information applies to the questions displayed below.) Greg's Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March Greg's Bicycle Shop uses a periodic inventory system. Units Cost per Unit $225 Total Cost $ 4,500 Date Transactions March 1 Beginning inventory March 5 Sale ($350 each) March 9 Purchase March 17 Sale ($400 each) March 22 Purchase March 27 Sale ($425 each) March 30 Purchase 245 2,450 255 2,550 275...