Question: Question $ 6 - Inventory Costing Below is the sales and purchase information on the x 3 0 0 widget. Calculate the value of the

 Question $6- Inventory Costing Below is the sales and purchase information

Question $6- Inventory Costing
Below is the sales and purchase information on the x300 widget. Calculate the value of the ending inventory and of the cost of goods sold for the month of August using: a) Moving Weighted Average; b) First In First Out
\table[[Aug.1,Beginning Inventory,10 units which cost $91 each],[Aug.3,Purchased,15 units which cost $106 each],[Aug.14,Sold,20 units],[Aug.17,Purchased,20 units which cost $115 each],[Aug.28,Purchased,10 units which cost $119 each],[Aug.31,Sold,23 units]]
on the x300 widget. Calculate the value of the ending inventory and

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!