The Xu Corporation uses a periodic inventory system. The company has a beginning inventory of 1,250...
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The Xu Corporation uses a periodic inventory system. The company has a beginning inventory of 1,250 units at $15 each on January 1. Xu purchases 1,500 units at $14 each in February and 700 units at $16 each in March. There were no additional purchases or sales during the remainder of the year.
$9,750 $10,400 $9,100 $9,599 |
Homework Answers
The answer is $ 9599
Weighted Average Cost per unit = (1250 units x $15) + (1500 Units x $14) + (700 units x $16) / 3450 Units
= $ 50950/ 3450 Units
= $ 14.7681 per unit
Cost of goods sold = 650 units sold x $ 14.7681 per unit
= $ 9599
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data were available: beginning inventory, 1,500 units at $25;
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taxes), $94,000; ending inventory per physical count at December
31, 1,000 units; sales price per unit, $75; and average income tax
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average costing methods.
PLEASE do not round intermediate calculations but can
you round the final answers to the nearest dollar
amount...
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