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Aunt Connie Corp had the following Inventory Aunt Connie Corp makes one sale of 200 units on December 23rd and uses the LIFO
Question 48 8 points Aunt Bess Corp had the following Inventory Aunt Bess Corp makes one sale of 200 units on December 23rd a
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Answer #1

1.  

Cost of Goods sold (150*40)+(50*45) 8250
Ending Inventory 50*45 2250
Option B is correct.

2.

Cost of Goods sold 200*26 5200
Ending Inventory 50*26 1300
Option D is correct.

Working note for weighted average cost:

Units Cost Total Cost
Beg. Inventory 100 20 2000
Purchase 150 30 4500
Total 250 6500
W. Avg. Cost (6500/250) 26
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