Question: Required information Exercise 6-4B Calculate inventory amounts when costs are rising (L06-3) [The following information applies to the questions displayed below.) During the year, a

Required information Exercise 6-4B Calculate inventory amounts when costs are rising (L06-3) [The following information applies to the questions displayed below.) During the year, a company has the following inventory transactions Date Transaction Jan 1 Beginning Inventory Apr. 7 Purchase Jul.16. Purchase Oct. 6 Purchase Number of Units 52 132 202 112 490 Unit Ceat $44 46 49 50 Total cost $ 2,283 6,072 9,898 5,600 $23, 150 For the entire year, the company sells 432 units of inventory for $62 each Exercise 6-4B Part 3 3. Using weighted average cost, calculate ending inventory, cost of goods sold, sales revenue and gross profit. (Round "Average Cost per unit to 4 decimal places and all other answers to the nearest whole number.) cost of Goods Available for Sale Cost of Good Sold Weighted Average Cost Ending Inventory Weighted Average Cast Weighted Average Cust W of units Available for Ending Cost per Unit Cout per unit Inventory Cost per Cost of Goods of units # of units Cost of unit Sold Sale Goods Sold in Ending Inventory 52 5 2.28 Beginning Inventory Purchase 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 4 decimal places and all other answers to the nearest whole number.) Cost of Goods Available for Sale Cost of Goods Sold Weighted Average Cost Ending inventory - Welghted Average Cont Weighted Average Cost Cost per Cost of # of units Cost of Goods Available for Sale # of units Sold Cost per Unit #of units Goods Sold in Ending Inventory Cost per unit Ending Inventory unit 52 $ 2,288 Beginning Inventory Purchases Apr 07 132 202 Jul 16 Oct 06 Total 6,072 9,898 5,600 23,858 112 498 $ 47 9076 $ 432 $ 47.9076 60 s 47.9076 $ 26,784 Sales revenue Gross profit
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
