During the year, Trombley Incorporated has the following inventory transactions. Nuber of Unita 24 Coat 626...
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During the year, Trombley Incorporated has the following inventory transactions. Nuber of Unita 24 Coat 626 25 24 22 Total Cost G 624 725 816 748 Date Teansantion Jan. 1 Beginning inventory Mar. 4 Purcbane Jun. 9 Purchase Nov.11 Purchase 29 34 34 121 $2,913 For the entire year, the company sells 90 units of inventory for $34 each. 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 2 decimal places and all other answers to the nearest whole number.) Cost of Goods Sold-Weighted Ending Inventory -Weighted Average Cost of Goods Available for Sale Average Cost Cost Weighted Average Cost Average Cost of Goods of units Cost per Available for Sale t of units Sold Average Cost per Unit Cost of Goods Sold # of units Average in Ending Cost per Inventory Ending Inventory unit unit Beginning inventory Purchases: 24 624 Mar 4 29 725 Jun.9 34 816 Nov. 11 34 748 Total 121 %24 2,913 90 S 34.00 S 2,913 Sales revenue Gross profit During the year, Trombley Incorporated has the following inventory transactions. Nuber of Unita 24 Coat 626 25 24 22 Total Cost G 624 725 816 748 Date Teansantion Jan. 1 Beginning inventory Mar. 4 Purcbane Jun. 9 Purchase Nov.11 Purchase 29 34 34 121 $2,913 For the entire year, the company sells 90 units of inventory for $34 each. 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 2 decimal places and all other answers to the nearest whole number.) Cost of Goods Sold-Weighted Ending Inventory -Weighted Average Cost of Goods Available for Sale Average Cost Cost Weighted Average Cost Average Cost of Goods of units Cost per Available for Sale t of units Sold Average Cost per Unit Cost of Goods Sold # of units Average in Ending Cost per Inventory Ending Inventory unit unit Beginning inventory Purchases: 24 624 Mar 4 29 725 Jun.9 34 816 Nov. 11 34 748 Total 121 %24 2,913 90 S 34.00 S 2,913 Sales revenue Gross profit
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Related Book For
Financial Accounting
ISBN: 978-1259914898
5th edition
Authors: David Spiceland, Wayne M. Thomas, Don Herrmann
Posted Date:
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