10 E7-6 (Static) Weighted Average Cost Inventory Calculations [LO 7-3] Just One Product (JOP) began operating...

Transcribed Image Text:

10 E7-6 (Static) Weighted Average Cost Inventory Calculations [LO 7-3] Just One Product (JOP) began operating on June 26 with no inventory on hand. It then made the purchases listed below. JOP sold and delivered 46 units on June 30. 10 points Description Units Unit Cost Total Cost $ 96 342 Date June 27 June 28 Purchase 12 $ 8 Purchase 38 eRook June 29 Purchase 20 11 220 Required: 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending inventory at June 30. 3. Calculate the cost of ending inventory and the cost of goods sold under Weighted Average Cost. Print References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the cost of ending inventory and the cost of goods sold under Weighted Average Cost. (Do not round intermediate values. Round your answers to 2 decimal places.) Cost of Ending Inventory Cost of Goods Sold Weighted Average Cost < Required 2 Required 3> 10 E7-6 (Static) Weighted Average Cost Inventory Calculations [LO 7-3] Just One Product (JOP) began operating on June 26 with no inventory on hand. It then made the purchases listed below. JOP sold and delivered 46 units on June 30. 10 points Description Units Unit Cost Total Cost $ 96 342 Date June 27 June 28 Purchase 12 $ 8 Purchase 38 eRook June 29 Purchase 20 11 220 Required: 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending inventory at June 30. 3. Calculate the cost of ending inventory and the cost of goods sold under Weighted Average Cost. Print References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the cost of ending inventory and the cost of goods sold under Weighted Average Cost. (Do not round intermediate values. Round your answers to 2 decimal places.) Cost of Ending Inventory Cost of Goods Sold Weighted Average Cost < Required 2 Required 3>

Answer rating: 100% (QA)

1 Number of units available for sale 70 units Cost of goods available for sale 658 ... View the full answer