To calculate: The cost of goods available for sale using the following table,
Date of purchase |
Unit purchased |
Cost per unit |
Beginning inventory |
182 |
$21 |
August 20 |
78 |
$27 |
September 12 |
39 |
$28 |
October 2 |
52 |
$21 |
Cost of goods available for sale |
Answer to Problem 1ES
Solution:
The total cost of goods available for sale is $8112.
Explanation of Solution
Given information:
The inventory table,
Date of purchase |
Unit purchased |
Cost per unit |
Beginning inventory |
182 |
$21 |
August 20 |
78 |
$27 |
September 12 |
39 |
$28 |
October 2 |
52 |
$21 |
Cost of goods available for sale |
Formula used:
Use the following formulae,
Calculation:
Consider the inventory table,
Date of purchase |
Unit purchased |
Cost per unit |
Beginning inventory |
182 |
$21 |
August 20 |
78 |
$27 |
September 12 |
39 |
$28 |
October 2 |
52 |
$21 |
Cost of goods available for sale |
Now, using the formula to find total cost of goods available for sale,
So, total cost of goods available for sale is $8112.
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Chapter 18 Solutions
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