L) whell Casll Ifom a sale is received. 14) A company had the following purchase
ID: 2597409 • Letter: L
Question
L) whell Casll Ifom a sale is received. 14) A company had the following purchases and sales during its first month of operations: January 1 January 9 January 17 January 27 Purchased 10 units at $4.00 per unit Sold 6 units at $12.00 per unit Purchased 8 units at $5.50 per unit Sold 7 units at $12.00 per unit Using the Periodic weighted average method, what is the value of cost of goods sold? (Round weig average cost per unit to 2 decimal places.) 14) A) $23. B) $5. C) $84. D) $61. E) $27. 15) A company has the following per unit original costs and replacement costs for its inventory. LCM is applied to individual items. Part A: 50 units with a cost of $5, and replacement cost of $4.50 Part B: 75 units with a cost of $6, and replacement cost of $6.50 Part C: 160 units with a cost of $3, and replacement cost of $2.50 compan' ending inventory is: 15) Under the lower of cost or market method, the total value of this com pany's ending inventory is: 15) A) $1,180.00. B) $1,217.50. C) $1,075.00. D) $1,137.50. E) $1,112.50.Explanation / Answer
14. Periodic Weighted Average cost = 60.7 = rounded 61
15.
Date Transaction Unit Cost Total Cost Jan-01 Purchase 10 4 40 Jan-17 Purchase 8 5.5 44 18 84 Periodic Weighted Average cost ( 84/18 ) 4.67 Jan-09 Sales Unit 6 Jan-27 Sales Unit 7 13 Cost of Goods Sold (13 x 4.67) 60.7Related Questions
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