Question

Carla Vista Co. uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost $5 $625 June 1 Inventory 125 12 Purchases 380 6 2,280 Purchases 23 220 1,540 30 Inventory 250 Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) $ Weighted-average unit cost 7

Answer 1

Weighted Average Unit Cost (4445/725) 6.131 FIFO LIFO Average Cost Cost of Ending inventory Cost of Goods sold 1375 1720 1533 2725 3070 2912 Periodic : FIFO Goods Purchasd Cost of Goods Sold Inventory Balance Cost Per Ending #of Units Cost of cost of Goods Available for sales Cost Per Unit Goods Sold Unit of Units Cost Per Unit sold # of Units Inventory Beginning inventory 5 625 5 625 5 125 125 0 0 Purchases 2280 350 Jun-12 380 6 6 2100 30 180 1540 1540 Jun-23 220 7 0 7 0 220 7 Totals 725 475 2725 250 4445 1720

Periodic : LIFO Goods Purchasd Cost of Goods Sold Inventory Balance Cost Per Ending Inventory Cost of # of Units cost of Goods Available for sales #of Units Cost Per Unit Goods Sold # of Units Cost Per Unit sold Unit Beginning inventory 125 5 625 5 625 0 0 125 5 Purchases 255 1530 125 Jun-12 380 6 2280 6 6 750 1540 1540 Jun-23 220 7 220 7 0 7 0 Totals 725 475 250 1375 4445 3070 Periodic: Weighted Average Goods Purchasd Cost of Goods Sold Inventory Balance # of Cost Per Ending Cost of cost of Goods # of Units Cost Per Unit Units # of Units Cost Per Unit Goods Sold Available for sales Unit Inventory sold Beginning inventory 125 Purchases Jun-12 380 Jun-23 220 5 625 6 2280 1540 7 4445 250 Totals 725 475 1533 6.131 6.131 2912 6.131