lasgow Enterprises started the period with 80 units in beginning inventory that cost $1.90 each. During the period, the company purchased inventory items as follows. Glasgow sold 265 units after purchase 3 for $1.90 each.
Purchase | No. of Items | Cost | ||||
1 | 400 | $ | 2.40 | |||
2 | 100 | $ | 2.50 | |||
3 | 60 | $ | 2.90 | |||
Glasgow's ending inventory under weighted average would be approximately: a. 900 b. 636 c. 786 d. 907
Total cost = (80*1.90)+(400*2.4)+(100*2.5)+(60*2.9)
= 1536
Total units = 80 + 400 +100 + 60 = 640
Average cost per unit = 1536/640 = 2.40
Ending inventory = Units available - Units sold = 640 - 265 = 375
Cost of ending inventory = 375*2.4 = 900
Option A
lasgow Enterprises started the period with 80 units in beginning inventory that cost $1.90 each. During...
Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.00 each. During the period, the company purchased Inventory Items as follows. Glasgow sold 230 units after purchase 3 for $10.00 each Purchase No. of Items 210 Cost $2.50 82.60 53.00 155 Glasgow's cost of goods sold under FIFO would be Multiple Choice Ο φ620 Ο οοο. Ο Ο οιοο. Ο
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[The following information applies to the questions displayed below.] Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.70 each. During the period, the company purchased inventory items as follows: Purchase No. of Items Cost 1 250 $ 3.20 2 110 $ 3.30 3 60 $ 3.70 Glasgow sold 270 units after purchase 3 for $10.20 each. What is Glasgow's ending inventory under LIFO?
[The following information applies to the questions displayed below.] Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.70 each. During the period, the company purchased inventory items as follows: Purchase No. of Items Cost 1 250 $ 3.20 2 110 $ 3.30 3 60 $ 3.70 Glasgow sold 270 units after purchase 3 for $10.20 each. What is Glasgow's cost of goods sold under FIFO?
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