Question: Inventory Costing Methods VanderMeer Inc reported the following information for the month of February 65 units @ $20 Inventory, February 1 Purchases: February 7 February
Inventory Costing Methods VanderMeer Inc reported the following information for the month of February 65 units @ $20 Inventory, February 1 Purchases: February 7 February 18 February 27 50 units @ $22 60 units @ $23 45 units $24 Ending Inventory During February, VanderMeer sold 140 units. The company esa periodic Inventory system. Required: What is the value of ending inventory and cast of goods sold for February under the following sumption Assumption Cost of Goods Sold 1. Of the 140 units sold, 55 cost $20.35 Co $22.45 cost $23, and 5 cost $24 2. FFO 1. UFO 4. Weighted average (Round average unit cost to the nearest cent and round all other calculations and your finanswers to the nearest dollar) Chew Work AWO ch o a hp
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
