Drago Company has a fiscal year end on December 31. The company has only one product...
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Drago Company has a fiscal year end on December 31. The company has only one product in inventory, and all units of that product are identical (homogenous). The opening balance unit price is $12 per unit. Complete the following schedule to calculate the value of ending inventory using the weighted-average cost method under the perpetual inventory system. Then calculate the cost of goods sold for the year 2022. Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. Date Purchases Jan 26 Feb 18 Mar 6 Apr 27 Jul 21 Sep 3 Nov 16 Quantity Cost 14 $13.00 32 $15.00 17 $17.00 Sales Quantity Cost Quantity 15 $12.75 34 11 $13.24 $13.24 Balance 100 $ 114 $ 146 $ 131 $ 148 16 114 S 103 $ Value Calculate the cost of goods sold. Cost of Goods Sold S Drago Company has a fiscal year end on December 31. The company has only one product in inventory, and all units of that product are identical (homogenous). The opening balance unit price is $12 per unit. Complete the following schedule to calculate the value of ending inventory using the weighted-average cost method under the perpetual inventory system. Then calculate the cost of goods sold for the year 2022. Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. Date Purchases Jan 26 Feb 18 Mar 6 Apr 27 Jul 21 Sep 3 Nov 16 Quantity Cost 14 $13.00 32 $15.00 17 $17.00 Sales Quantity Cost Quantity 15 $12.75 34 11 $13.24 $13.24 Balance 100 $ 114 $ 146 $ 131 $ 148 16 114 S 103 $ Value Calculate the cost of goods sold. Cost of Goods Sold S
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Related Book For
Foundations of Finance The Logic and Practice of Financial Management
ISBN: 978-0132994873
8th edition
Authors: Arthur J. Keown, John D. Martin, J. William Petty
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