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Bend Ski and Board Shop sell snowboards. They made the following purchases of the Supermodel X...

Bend Ski and Board Shop sell snowboards. They made the following purchases of the Supermodel X Free-Rider Board from Burton Co. during the year:

20 at $115 in Sept

40 at $120 in Oct;

20 at $125 in Nov

By the end of the year, 64 snowboards were sold.

The Weighted Average Cost of Goods Sold is:

a. $ 7,760

b.$ 7,680

c.$ 7,600
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Answer #1

Ending Inventory = 20+40+20 - 64 = 16 units

Weighted Average Cost per unit = (20*115+40*120+20*125)/(20+40+20) = $120 per unit

Weighted Average Cost of Goods Sold = 64*120 = $7680

Option b. is correct answer.

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