Question: Unit Coat $ 250 Total Cost $ 5,000 270 Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 Transactions

 Unit Coat $ 250 Total Cost $ 5,000 270 Date March

Unit Coat $ 250 Total Cost $ 5,000 270 Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 Transactions Beginning inventory Sale ($400 each) Purchase Sale ($450 each) Purchase Sale ($475 each) Purchase Units 20 15 10 8 10 12 9 2,700 280 2,800 300 2,700 $13,200 For the specific identification method, the March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 purchase. 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31. (Round your intermediate and fi answers to 2 decimal places.) 3,500.00 Ending inventory Cost of goods sold

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!