The following are the transactions for the month of July. July 1 July 13 July 25...
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The following are the transactions for the month of July. July 1 July 13 July 25 Beginning Inventory Purchase Sold Units 58 Unit Cost $ 10 Unit Selling Price 290 11 July 31 Ending Inventory (100) 248 $ 14 M7-9 (Algo) Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic Weighted Average Cost [LO 7.3] Required: a. Calculate cost of goods available for sale and ending inventory under weighted average cost. Assume a periodic inventory system is used. b. Calculate sales, cost of goods sold, and gross profit, under weighted average cost. Assume a periodic inventory system is used. Complete this question by entering your answers in the tabs below. Required A Required B Calculate cost of goods available for sale and ending inventory under weighted average cost. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) Weighted Average (Periodic) Units Cost per Unit Total Beginning Inventory Purchases Goods Available for Sale Cost of Goods Sold Ending Inventory < Required A Required B > The following are the transactions for the month of July. July 1 July 13 July 25 Beginning Inventory Purchase Sold Units 58 Unit Cost $ 10 Unit Selling Price 290 11 (100) $ 14 July 31 Ending Inventory 248 M7-9 (Algo) Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic Weighted Average Cost [LO 7-3] Required: a. Calculate cost of goods available for sale and ending inventory under weighted average cost. Assume a periodic inventory system is used. b. Calculate sales, cost of goods sold, and gross profit, under weighted average cost. Assume a periodic inventory system is used. Complete this question by entering your answers in the tabs below. Required A Required B Calculate sales, cost of goods sold, and gross profit, under weighted average cost. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to the nearest whole dollar amount.) Weighted Average (Periodic) Sales Cost of Goods Sold Gross Profit < Required A Required B > The following are the transactions for the month of July. July 1 July 13 July 25 Beginning Inventory Purchase Sold Units 58 Unit Cost $ 10 Unit Selling Price 290 11 July 31 Ending Inventory (100) 248 $ 14 M7-9 (Algo) Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic Weighted Average Cost [LO 7.3] Required: a. Calculate cost of goods available for sale and ending inventory under weighted average cost. Assume a periodic inventory system is used. b. Calculate sales, cost of goods sold, and gross profit, under weighted average cost. Assume a periodic inventory system is used. Complete this question by entering your answers in the tabs below. Required A Required B Calculate cost of goods available for sale and ending inventory under weighted average cost. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) Weighted Average (Periodic) Units Cost per Unit Total Beginning Inventory Purchases Goods Available for Sale Cost of Goods Sold Ending Inventory < Required A Required B > The following are the transactions for the month of July. July 1 July 13 July 25 Beginning Inventory Purchase Sold Units 58 Unit Cost $ 10 Unit Selling Price 290 11 (100) $ 14 July 31 Ending Inventory 248 M7-9 (Algo) Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic Weighted Average Cost [LO 7-3] Required: a. Calculate cost of goods available for sale and ending inventory under weighted average cost. Assume a periodic inventory system is used. b. Calculate sales, cost of goods sold, and gross profit, under weighted average cost. Assume a periodic inventory system is used. Complete this question by entering your answers in the tabs below. Required A Required B Calculate sales, cost of goods sold, and gross profit, under weighted average cost. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to the nearest whole dollar amount.) Weighted Average (Periodic) Sales Cost of Goods Sold Gross Profit < Required A Required B >
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Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
Posted Date:
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