Question: Can you please explain how to get the cost per unit for COGS? M7-6 Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost
Can you please explain how to get the cost per unit for COGS?
M7-6 Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic FIFO, LIFO, and Weighted Average Cost
| Units | Unit Cost | Unit Selling Price | ||||||||
| July 1 | Beginning Inventory | 48 | $ | 10 | ||||||
| July 13 | Purchase | 240 | 13 | |||||||
| July 25 | Sold | ( | 100 | ) | $ | 15 | ||||
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| July 31 | Ending Inventory | 188 |
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(c) Weighted Average Cost Answer is complete but not entirely correct vera Periodic Cost per Unit Units Total 48 S 10.00 240 S 13.00 Beginning Inventory Purchases Goods Available for Sale Cost of Goods Sold Ending Inventory 480 3,120 3,600 1,150 $ 2,450 100 s 11.50 Weighted Avera Periodic Sales Cost of Goods Sold Gross Profit $1,500 1,150 $ 350
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