The Mann Corporation began operations in Year 1. Information relating to the company's purchases of inventory...

 

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The Mann Corporation began operations in Year 1. Information relating to the company's purchases of inventory and sales of products for Year 1 and Year 2 is presented below Year 1 March 1 Purchase 200 units@ $10 per unit June 1 Sold 120 units $25 per unit September 1 Purchase 100 units @ $14 per unit November 1 Sold 130 units @ $25 per unit Year 2 March 1 Purchase 100 units@ $16 per unit Sold June 1 80 units@ $30 per unit September 1 Purchase 100 units $18 per unit November 1 Sold 100 units @ $35 per unit Calculate the weighted-average cost of goods sold and ending inventory for Year 1 and Year 2 assuming use of (a) the periodic method and (b) the perpetual method. a. Weighted-Average Periodic. Do not round your cost per unit. Do not round until your final answer. Round your answers to the nearest whole number. Year 1 Cost of goods sold S Ending inventory S Year 2 Cost of goods sold $ Ending inventory S 0 0 Year 2 Cost of goods sold S Ending inventory S 0 0 b. Weighted-Average Perpetual. Do not round your cost per unit. Do not round until your final answer. Round your answers to the nearest whole number. Year 1 Cost of goods sold $ Ending inventory S 2,789 611 0 0 The Mann Corporation began operations in Year 1. Information relating to the company's purchases of inventory and sales of products for Year 1 and Year 2 is presented below Year 1 March 1 Purchase 200 units@ $10 per unit June 1 Sold 120 units $25 per unit September 1 Purchase 100 units @ $14 per unit November 1 Sold 130 units @ $25 per unit Year 2 March 1 Purchase 100 units@ $16 per unit Sold June 1 80 units@ $30 per unit September 1 Purchase 100 units $18 per unit November 1 Sold 100 units @ $35 per unit Calculate the weighted-average cost of goods sold and ending inventory for Year 1 and Year 2 assuming use of (a) the periodic method and (b) the perpetual method. a. Weighted-Average Periodic. Do not round your cost per unit. Do not round until your final answer. Round your answers to the nearest whole number. Year 1 Cost of goods sold S Ending inventory S Year 2 Cost of goods sold $ Ending inventory S 0 0 Year 2 Cost of goods sold S Ending inventory S 0 0 b. Weighted-Average Perpetual. Do not round your cost per unit. Do not round until your final answer. Round your answers to the nearest whole number. Year 1 Cost of goods sold $ Ending inventory S 2,789 611 0 0

Answer rating: 100% (QA)

SOLUTION To calculate the weightedaverage cost of goods sold COGS and ending inventory for Year 1 and Year 2 using the periodic method and the perpetual method we need to compute the weighted average ... View the full answer