Windsor uses a periodic inventory system. In April, 600 units were sold and the following additional information
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Windsor uses a periodic inventory system. In April, 600 units were sold and the following additional information is available:
Units | Unit Cost | Total Cost | |||||||||
April 1 inventory | 250 | $18.00 | $4,500 | ||||||||
April 15 purchase | 400 | 21.00 | 8,400 | ||||||||
April 23 purchase | 350 | 26.00 | 9,100 | ||||||||
1,000 | $22,000 |
Calculate the April 30 inventory and the April cost of goods sold using the weighted average cost formula.
April 30 inventory | $ | |
April cost of goods sold | $ |
Calculate the April 30 inventory and the April cost of goods sold using the FIFO cost formula.
April 30 inventory | $ | |
April cost of goods sold | $ |
Related Book For
Intermediate Accounting
ISBN: 978-1259548185
8th edition
Authors: David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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