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Calculate the cost of ending inventory and cost of goods sold on June 30 under weighted average. Round the weighted average cost per unit to 3 decimal places, e.g. 5.271 and final answers to

Calculate the cost of ending inventory and cost of goods sold on June 30 under weighted average. Round the weighted average cost per unit to 3 decimal places, e.g. 5.271 and final answers to

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 3RE: Reid Company uses the periodic inventory system. On January 1, it had an inventory balance of...
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Inventory data for Larkspur Company are reported as follows: Date June 1 12 23 Beginning inventory Purchase Explanation Purchase Ending inventory Cost of goods sold $ Number of Units $ LA 440 640 540 Unit Cost $5 Assume a sale of 680 units occurred on June 15 for a selling price of $8 and a sale of 600 units on June 27 for $9. On June 30, 340 units remain in inventory. Weighted Average 6 Calculate the cost of ending inventory and cost of goods sold on June 30 under weighted average. (Round the weighted average cost per unit to 3 decimal places, e.g. 5.271 and final answers to 2 decimal places, e.g. 5,275.75.) 7 Total Cost $2,200 3,840 3,780
Transcribed Image Text:Inventory data for Larkspur Company are reported as follows: Date June 1 12 23 Beginning inventory Purchase Explanation Purchase Ending inventory Cost of goods sold $ Number of Units $ LA 440 640 540 Unit Cost $5 Assume a sale of 680 units occurred on June 15 for a selling price of $8 and a sale of 600 units on June 27 for $9. On June 30, 340 units remain in inventory. Weighted Average 6 Calculate the cost of ending inventory and cost of goods sold on June 30 under weighted average. (Round the weighted average cost per unit to 3 decimal places, e.g. 5.271 and final answers to 2 decimal places, e.g. 5,275.75.) 7 Total Cost $2,200 3,840 3,780
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