Question
the beginning inventory

beginning inventory and the purchases of item ABC during the year w ary 1 inventory 10units at $100-$1000 h 25 Purchase20 uni
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Answer #1

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Ending Inventory

FIFO

$                   4,750

Weighted Average

$                   3,750

  • Working

FIFO

Cost of Goods available for sale

Cost of Goods Sold

Ending Inventory

Units

Cost/unit

COG for sale

Units sold

Cost/unit

COGS

Units

Cost/unit

Ending inventory

Beginning Inventory

10

$              100.00

$                        1,000.00

10

$             100.00

$                 1,000.00

0

$              100.00

$                         -  

Purchases:

20

$              125.00

$                        2,500.00

20

$             125.00

$                 2,500.00

0

$              125.00

$                         -  

15

$              150.00

$                        2,250.00

10

$             150.00

$                 1,500.00

5

$              150.00

$                750.00

20

$              200.00

$                        4,000.00

0

$             200.00

$                              -  

20

$              200.00

$            4,000.00

TOTAL

65

$                        9,750.00

40

$                 5,000.00

25

$            4,750.00 = ANSWER

Weighted Average (Periodic)

Units

Cost per unit

Total

Beginning Inventory

10

$          100.00

$       1,000.00

Purchases:

20

$          125.00

$       2,500.00

15

$          150.00

$       2,250.00

20

$          200.00

$       4,000.00

Total Purchases

55

$       8,750.00

Goods Available for Sales

65

$       9,750.00

Weighted Average cost per unit

$      150.000

Cost of Goods Sold

40

$       150.000

$       6,000.00

Ending Inventory

25

$       150.000

$       3,750.00 = Answer

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