Week 4 Inventories

Week 4 Inventories - 840 Apr. 20 Balance 160 units @...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
1 = $1,000 = 880 = 840 $2,720 Average Cost - Periodic 100 units @ $10 per unit Apr. 1 Apr. 10 Apr. 20 80 units @ $11 per unit 70 units @ $12 per unit Sold 140 units during April. 250 units Beg. Inv. + Purchases - End. Inv. = Cost of Goods Sold $1,000 + $1,720 - $1,197 = $1,523 $2,720 ÷ 250 units = $10.88 $10.88 x 110 units = ending inventory of $1,197
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2 $1,780 $1,780 ÷ ÷ 160 160 Apr. 18 Sales -90 units @ $10.44 -940 Apr. 18 Balance 90 units @ $10.44 $ 940 Apr. 20 Purchases 70 units @ $12
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 840 Apr. 20 Balance 160 units @ $11.125 $1,780 Weighted Average - Perpetual Apr. 1 Beginning Inventory100 units @ $10 $1,000 Apr. 10 Purchases 80 units @ $11 880 Apr. 10 Balance 180 units @ $10.44 $1,880 Apr. 27 Sales-50 units @ $11.125-556 Apr. 30 Balance 110 units @ $11.125 $1,224 Cost of Goods Sold (140 units) $940 + $556 $1,496 Ending Inventory (110 units @ $11.125) $1,224 $1,880 $1,880 180 180...
View Full Document

Page1 / 2

Week 4 Inventories - 840 Apr. 20 Balance 160 units @...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online