ACCT
Week 4 Inventories

# Week 4 Inventories - 1 Average Cost Periodic Apr 1 Apr 10...

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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

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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
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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...
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