Given the following: Number purchased Cost per unit Total January 1 inventory 42 $ 3 $ 126 April 1 62 6 372 June 1 52 7 364 November 1 57 8 456 213 $ 1,318 A. Calculate the cost of ending inventory using the weighted-average method (ending inventory shows 63 units). Note: Round the "average unit cost" and final answer to the nearest cent. Cost of ending inventory $389.97 B. Calculate the cost of goods sold using the weighted-average method. Note: Round your intermediate calculations and final answer to the nearest cent. Cost of goods sold $ Please help with B ONLY. I cannot figure out the weighted average method.
Given the following: Number purchased Cost per unit Total January 1 inventory 42 $ 3 $ 126 April 1 62 6 372 June 1 52 7 364 November 1 57 8 456 213 $ 1,318 A. Calculate the cost of ending inventory using the weighted-average method (ending inventory shows 63 units). Note: Round the "average unit cost" and final answer to the nearest cent. Cost of ending inventory $389.97 B. Calculate the cost of goods sold using the weighted-average method. Note: Round your intermediate calculations and final answer to the nearest cent. Cost of goods sold $ Please help with B ONLY. I cannot figure out the weighted average method.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Given the following:
Number purchased | Cost per unit | Total | |
---|---|---|---|
January 1 inventory | 42 | $ 3 | $ 126 |
April 1 | 62 | 6 | 372 |
June 1 | 52 | 7 | 364 |
November 1 | 57 | 8 | 456 |
213 | $ 1,318 |
A. Calculate the cost of ending inventory using the weighted-average method (ending inventory shows 63 units).
Note: Round the "average unit cost" and final answer to the nearest cent.
Cost of ending inventory | $389.97 |
B. Calculate the cost of goods sold using the weighted-average method.
Note: Round your intermediate calculations and final answer to the nearest cent.
Cost of goods sold | $ |
Please help with B ONLY. I cannot figure out the weighted average method.
Thank you!
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