Question 1 Pharoah Company uses a periodic inventory system. For April, when the

Question

Question 1 Pharoah Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available. Units Unit Cost Total Cost April 1 inventory April 15 purchase April 23 purchase 260 430 310 1,000 $15 3,900 7,740 20 0,200 $17,840 18 Calculate weighted average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Weighted average cost per unit LINK TO TEXT Compute the April 30 inventory and the April cost of goods sold using the average-cost method (Round answers to O decimal places, e.g. 2,760.) Ending inventory Cost of goods sold s LINK TO TEXT

Explanation / Answer

Weighted average cost per unit = 17840/1000 = 17.84 per unit

Ending inventory under weighted average method = (450*17.84) = 8028

Cost of goods sold under weighted average method = (550*17.84) = 9812

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