Marriot serves a special Texan wine, and it is very popular amongst the clients. After the new
Question:
Marriot serves a special Texan wine, and it is very popular amongst the clients. After the new year eve’s celebration, the restaurant only had 12 bottles in January to start the new year at a cost of $25.00 per bottle. Below are numbers pulled from their purchase records for the month of January:
Date Bottles Cost per Bottle
Jan 6 120 $27.85
Jan 12 120 $27.95
Jan 18 96 $28.25
Jan 27 180 $28.40
A physical count of the inventory on January 31st reveals that there are 31 bottles on hand.
Using the Weighted Average inventory valuation method, please calculate:
1. Calculate the cost of ending inventory on January 31st
2. If each bottle is sold at $69.95, what is the cost of beverage sold?
Data Analysis and Decision Making
ISBN: 978-0538476126
4th edition
Authors: Christian Albright, Wayne Winston, Christopher Zappe