Question

Copy of Copy of The units of an item available for sale during the year were as follows: Jan 1 Inventory 17 units at 124 April 15 Purchase 137 units at 116 September 9 Purchase 23 units at 119 There are 41 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the average cost method. (Round to nearest whole dollar)

Answer 1

cost Average whit cost snit cost. Bolution. Jan 1 Begining inventory if units @ 124 April 15 Purchase 137 units @ 116 Sept g Purchase 23 units @ leg Dec 31 closing inventory 41 Units. calcistatom of Inventory using cuerage cost method for perodic Inventory system . (Amosnt in 8) units To teu. song Inventory 124 2108 April 15 porinase 116 sept g porenase 2737 117.158 20737 Average unit cost = Total cost of Inventory Total snit in Inventory $20737 = $ !! 7 058 Ending Inventory cost = ur units X $ 1.70158 =84808.48 Answer 137 15892 23 177 * 177 # Average cose method calculate the cost of ending Inventory and cost of Good sold for o period on basis of weighted average cost per unit of Inventory. o you can round to nearest whole collar. Note