Question: Telamark Company uses the moving weighted average method for inventory costing. Required: The following incomplete inventory sheet regarding Product W506 is available for the

Telamark Company uses the moving weighted average method for inventory costing. Required:The following incomplete inventory sheet regarding Product W506 is available for the

Telamark Company uses the moving weighted average method for inventory costing. Required: The following incomplete inventory sheet regarding Product W506 is available for the month of March 2020. Complete the inventory sheet. (Use the value of the ending inventory as your base number and adjust the COGS $ amount to the required amount to make the Total Goods Available for Sale to the total of the Value of the ending inventory and the COGS total. Negative value should be indicated with minus sign. Round your intermediate and final answers to 2 decimal places.) Purchases/Transportation-In/ (PurchaseReturns/Discounts) Date Units Cost/Unit Mar. 1 Brought Forward 2 30 69 $ 96.00 3 4 Cost of Goods Sold/(Returns to Inventory) Total $ Units Cost/Unit 37 (17) 55 50 Balance in Inventory Total $ Units Avg Cost/Unit Total $ 55 94.00 $ 5,170.00 7 17 35 97.00 28 38 + Totals Goods Available for Sale Goods Sold Ending Inventory

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!