Purchase Information Date Units Unit Cost Beginning Inventory 7 $6.00 April 4 th
ID: 2708035 • Letter: P
Question
Purchase Information
Date
Units
Unit Cost
Beginning Inventory
7
$6.00
April 4th
27
$9.50
May 20th
29
$10.00
Dec 2nd
17
$11.25
Units sold = 22
A. Cost of ending inventory
Date
Units
Unit Cost
Beginning Inventory
7
$6.00
April 4th
27
$9.50
May 20th
29
$10.00
Dec 2nd
17
$11.25
Purchase Information Units sold = 22 Cost of ending inventory LIFO ______________________ Cost of goods sold LIFO ______________________ Cost of ending inventory FIFO ______________________ Cost of goods sold FIFO ______________________ Cost of ending inventory Weighted average ______________________ Cost of goods sold Weighted average ______________________Explanation / Answer
A) (7*6) + (27*9.5) + (24*10) = $538.5
B) (17*11.25) + (5*10) = $241.25
C) (12*9.5) + (29*10) + (17*11.25) = $595.25
D) (7*6) + (15*9.5) = $184.5
E) ending inven, weighted avg = (58*538.5) + (58*595.25)/ 80 = $821.96
F) cogs weighted avg = (22*241.25) + (22*184.5) / 80 = $117.08
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