Question

Average cost

Question 2 View Policies Show Attempt History Current Attempt in Progress Sandhill Co. had a beginning inventory of 99 units of Product RST at a cost of $8 per unit. During the year, purchases wer Feb 20 636 units at $9 May 5 520 units at $10 Aug. 12 400 units at $11 Dec. 8 90 units at $12 Sandhill Couses a periodic inventory system. Sales totaled 1.460 units. Your answer is correct. (a) Determine the cost of goods available for sale. 17196 The cost of goods available for sale $ o ella

Answer 1

Periodic : Weighted Average Inventory Balance # of Units Goods Purchasd Cost of Goods Sold cost of Goods # of Cost of Cost Per Cost Per Unit Available for Units Goods Unit sales Sold 792 # of Units Cost Per Ending Unit Inventory sold 99 Beginning onventory Purchases Feb-20 May-05 Aug-12 Dec-08 Totals 636 520 400 90 9 10 11 12 17459 5724 5200 4400 1080 1 7196 .854 1460 9.854 14387 285 9.854 2808 Answers The cost of Goods Available for sale Average Cost per unit =(16465/1850) FIFO LIFO Ending inventoy 3225 Cost of Goods Sold 13971 17196 9.854 Weighted Average 2466 2808 14730 14387

8 91 5201 10 11 901 12 12 Totals Periodic : FIFO Goods Purchasd Cost of Goods Sold Inventory Balance Cost of cost of Goods # of Units Cost Per Goods Cost Per Ending # of Units Cost Per Unit Available for sales sold Unit Sold # of Units Unit Inventory Beginning onventoryl 99 792 99 8 Purchases Feb-20 636 5724 636 5724 May-05 520 5200 10 5200 Aug-12 4001 4400 205 11 2255 195 21451 Dec-08 1080 0 901 121 1080 1745 17196 1460 13971 285 32251 Periodic : LIFO Goods Purchasd Cost of Goods Sold Inventory Balance Cost of cost of Goods # of Units Cost Per Goods Cost Per Ending # of Units Cost Per Unit Available for sales sold Unit Sold # of Units Unit Inventory Beginning onventory 99 792 01 81 0 99 8 792 Purchases Feb-20 636 5724 450 9 4050 1861 91 1674 May-05 5201 10 5200 520 101 52001 Aug-12 400 4400 4001 11 4400 Dec-08 90 121 1080 901 12 1080 12 Totals 1745 1719614601 14730 285 2466