Germania Co for bags and suit cases presented its inventory data to its management team as...

 

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Germania Co for bags and suit cases presented its inventory data to its management team as shown below Date Jan 1 March 14 July 30 October 4 Units available Cost of Goods The company makes sales in the following dates Purchase beginning purchase purchase purchase Total Cost $1020 $1170 $7000 $6750 Number of units Cost per unit 85 $12.00 $13.00 $14.00 $15.00 90 500 450 1125 $15940 Date Sale Number of units Jan 10 sale March 15 Oct 15 65 units 40 units sale sale 350 units Total 450 units 905 The company makes sales in the following dates using special identification method Date Number of unit 65 units from the beginning inventory 15 from the beginning inventory 30 units from the March 14 purchase 50 units from March 14 purchase 350 units from Oct 4 purchase Jan 10 March 15 Oct 15 Total what is the cost of inventory using weighted average?(type the number 7 points only, round to two decimal places) * Your answer 9 This is a required question Suppose the same company wants to estimate its inventory cost using 3 points retail. what will the estimate be? Cost Retail Beginning inventory Cost of good purchased Net sales at retail $ 450000 $ 200000 $527000 $390000 $ 320000 Your answer This is a required question Germania Co for bags and suit cases presented its inventory data to its management team as shown below Date Jan 1 March 14 July 30 October 4 Units available Cost of Goods The company makes sales in the following dates Purchase beginning purchase purchase purchase Total Cost $1020 $1170 $7000 $6750 Number of units Cost per unit 85 $12.00 $13.00 $14.00 $15.00 90 500 450 1125 $15940 Date Sale Number of units Jan 10 sale March 15 Oct 15 65 units 40 units sale sale 350 units Total 450 units 905 The company makes sales in the following dates using special identification method Date Number of unit 65 units from the beginning inventory 15 from the beginning inventory 30 units from the March 14 purchase 50 units from March 14 purchase 350 units from Oct 4 purchase Jan 10 March 15 Oct 15 Total what is the cost of inventory using weighted average?(type the number 7 points only, round to two decimal places) * Your answer 9 This is a required question Suppose the same company wants to estimate its inventory cost using 3 points retail. what will the estimate be? Cost Retail Beginning inventory Cost of good purchased Net sales at retail $ 450000 $ 200000 $527000 $390000 $ 320000 Your answer This is a required question

Answer rating: 100% (QA)

Solution 1 Average price of inventory Total costGoods available for sale 15940 1125 14... View the full answer