Homework Answers
Answer
- Requirement 3
>Calculation of Average rate per unit
|
Average Method |
Cost of Goods available for sale |
||
|
Units |
Cost/unit |
COG for sale |
|
|
Beginning Inventory |
400 |
$ 5.10 |
$ 2,040.00 |
|
Purchases: |
|||
|
04-May |
1400 |
$ 5.20 |
$ 7,280.00 |
|
08-May |
600 |
$ 5.30 |
$ 3,180.00 |
|
TOTAL |
2400 |
$ 5.208 |
$ 12,500.00 |
>Average Rate = $ 12500 / 2400
units
= $ 5.21 per unit
- Requirement:
Cost of Goods Sold = (200 + 1000 + 500) units sold x $ 5.21
= 1700 x 5.21
= $ 8857 Answer
Add Answer to:
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assuming that a perpetual inventory system is used compute the
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was as follows. Purchases Sales April 1
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periodic average cost method.
B. Calculate Ending Inventory and Cost of Goods Sold using the
periodic LIFO method.
C. Calculate Ending Inventory and Cost of Goods Sold using the
periodic FIFO method.
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Calculate the cost of goods available for sale, cost of goods
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