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Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate ending inventory and cost of goods sold for January using average cost. Note: Round cost per unit to 2 decimal places. Cost of Goods Available for Sale Cost of Goods Sold - Average Cost Ending Inventory - Average Cost Average Cost Number of units Unit Cost Cost of Goods Available for Sale Number of units sold Average Cost per Unit Cost of Goods Sold Number of units in ending inventory Average Cost per unit Ending Inventory 210 $20.00 $ 4,200 Beginning Inventory Purchases: January 8 January 19 Total 105 $23.00 2,415 210 $25.00 5,250 525 $ 11,865 < Required 1 Required 2 $ 0 $ 0 Salt and Mineral (SAM) began 2024 with 210 units of its one product. These units were purchased near the end of 2023 for $20 each. During the month of January, 105 units were purchased on January 8 for $23 earn and another 210 units were purchased on January 19 for $25 each Sales of 140 units and 110 units were made on January 10 and January 25, respectively. There were 275 units on hand at the end of the month. SAM uses a periodic inventory system. Required: 1. Calculate ending Inventory and cost of goods sold for January using FIFO 2. Calculate ending inventory and cost of goods sold for January using average cost Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate ending inventory and cost of goods sold for January using FIFO. Cost of Goods Available for Sale Cost of Goods Sold Frodo FIFO Number of Costper Cost of Goods Available for Sale Number of old Cast par Cost of Goods 2105 20:00 S #200 20:00 S Beginning inventory Purchases January B 105 23.00 2.415 23.00 January 10 210 25:00 5:250 25.00 525 $ 11.865 $ Required 2 > Exing Inventory Fsmodio FIFO Number of anding inventory Cost per unit Ending Inventory $ 20:00 S 0 22.00 2500 $ प्र

Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate ending inventory and cost of goods sold for January using average cost. Note: Round cost per unit to 2 decimal places. Cost of Goods Available for Sale Cost of Goods Sold - Average Cost Ending Inventory - Average Cost Average Cost Number of units Unit Cost Cost of Goods Available for Sale Number of units sold Average Cost per Unit Cost of Goods Sold Number of units in ending inventory Average Cost per unit Ending Inventory 210 $20.00 $ 4,200 Beginning Inventory Purchases: January 8 January 19 Total 105 $23.00 2,415 210 $25.00 5,250 525 $ 11,865 < Required 1 Required 2 $ 0 $ 0 Salt and Mineral (SAM) began 2024 with 210 units of its one product. These units were purchased near the end of 2023 for $20 each. During the month of January, 105 units were purchased on January 8 for $23 earn and another 210 units were purchased on January 19 for $25 each Sales of 140 units and 110 units were made on January 10 and January 25, respectively. There were 275 units on hand at the end of the month. SAM uses a periodic inventory system. Required: 1. Calculate ending Inventory and cost of goods sold for January using FIFO 2. Calculate ending inventory and cost of goods sold for January using average cost Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate ending inventory and cost of goods sold for January using FIFO. Cost of Goods Available for Sale Cost of Goods Sold Frodo FIFO Number of Costper Cost of Goods Available for Sale Number of old Cast par Cost of Goods 2105 20:00 S #200 20:00 S Beginning inventory Purchases January B 105 23.00 2.415 23.00 January 10 210 25:00 5:250 25.00 525 $ 11.865 $ Required 2 > Exing Inventory Fsmodio FIFO Number of anding inventory Cost per unit Ending Inventory $ 20:00 S 0 22.00 2500 $ प्र

Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
ChapterC: Cases
Section: Chapter Questions
Problem 1C
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Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate ending inventory and cost of goods sold for January using average cost. Note: Round cost per unit to 2 decimal places. Cost of Goods Available for Sale Cost of Goods Sold - Average Cost Ending Inventory - Average Cost Average Cost Number of units Unit Cost Cost of Goods Available for Sale Number of units sold Average Cost per Unit Cost of Goods Sold Number of units in ending inventory Average Cost per unit Ending Inventory 210 $20.00 $ 4,200 Beginning Inventory Purchases: January 8 January 19 Total 105 $23.00 2,415 210 $25.00 5,250 525 $ 11,865 < Required 1 Required 2 $ 0 $ 0
Transcribed Image Text:Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate ending inventory and cost of goods sold for January using average cost. Note: Round cost per unit to 2 decimal places. Cost of Goods Available for Sale Cost of Goods Sold - Average Cost Ending Inventory - Average Cost Average Cost Number of units Unit Cost Cost of Goods Available for Sale Number of units sold Average Cost per Unit Cost of Goods Sold Number of units in ending inventory Average Cost per unit Ending Inventory 210 $20.00 $ 4,200 Beginning Inventory Purchases: January 8 January 19 Total 105 $23.00 2,415 210 $25.00 5,250 525 $ 11,865 < Required 1 Required 2 $ 0 $ 0
Salt and Mineral (SAM) began 2024 with 210 units of its one product. These units were purchased near the end of 2023 for $20 each. During the month of January, 105 units were purchased on January 8 for $23 earn and another 210 units were purchased on January 19 for $25 each Sales of 140 units and 110 units were made on January 10 and January 25, respectively. There were 275 units on hand at the end of the month. SAM uses a periodic inventory system. Required: 1. Calculate ending Inventory and cost of goods sold for January using FIFO 2. Calculate ending inventory and cost of goods sold for January using average cost Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate ending inventory and cost of goods sold for January using FIFO. Cost of Goods Available for Sale Cost of Goods Sold Frodo FIFO Number of Costper Cost of Goods Available for Sale Number of old Cast par Cost of Goods 2105 20:00 S #200 20:00 S Beginning inventory Purchases January B 105 23.00 2.415 23.00 January 10 210 25:00 5:250 25.00 525 $ 11.865 $ Required 2 > Exing Inventory Fsmodio FIFO Number of anding inventory Cost per unit Ending Inventory $ 20:00 S 0 22.00 2500 $ प्र
Transcribed Image Text:Salt and Mineral (SAM) began 2024 with 210 units of its one product. These units were purchased near the end of 2023 for $20 each. During the month of January, 105 units were purchased on January 8 for $23 earn and another 210 units were purchased on January 19 for $25 each Sales of 140 units and 110 units were made on January 10 and January 25, respectively. There were 275 units on hand at the end of the month. SAM uses a periodic inventory system. Required: 1. Calculate ending Inventory and cost of goods sold for January using FIFO 2. Calculate ending inventory and cost of goods sold for January using average cost Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate ending inventory and cost of goods sold for January using FIFO. Cost of Goods Available for Sale Cost of Goods Sold Frodo FIFO Number of Costper Cost of Goods Available for Sale Number of old Cast par Cost of Goods 2105 20:00 S #200 20:00 S Beginning inventory Purchases January B 105 23.00 2.415 23.00 January 10 210 25:00 5:250 25.00 525 $ 11.865 $ Required 2 > Exing Inventory Fsmodio FIFO Number of anding inventory Cost per unit Ending Inventory $ 20:00 S 0 22.00 2500 $ प्र
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