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 Sold - Weighted Average Cost Cost of Goods Available for Sale Ending Inventory - Weighted Average Cost Weighted Average Cost Cost per unit Cost of Goods Available for Sale # of units Sold Cost of Goods Sold # of units in Ending Inventory Ending Inventory # of units Cost per Unit Cost per unit Beginning Inventory Purchases: 53 2$ 2,385 Apr 07 133 6,251 Jul 16 203 10.150 Oct 06 113 5,763 Total 502 2$ 24,549 Sales revenue

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 Sold - Weighted Average Cost Cost of Goods Available for Sale Ending Inventory - Weighted Average Cost Weighted Average Cost Cost per unit Cost of Goods Available for Sale # of units Sold Cost of Goods Sold # of units in Ending Inventory Ending Inventory # of units Cost per Unit Cost per unit Beginning Inventory Purchases: 53 2$ 2,385 Apr 07 133 6,251 Jul 16 203 10.150 Oct 06 113 5,763 Total 502 2$ 24,549 Sales revenue

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Compute cost of goods sold using the following information. Merchandise inventory, beginning Cost of merchandise purchased Merchandise inventory, ending $12,200 45.200 18,200 Cost of Goods Sold is Computed an Cost of goods sold $ Heip have t Subit
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Instructions: Please DO NOT Excel. Please provide detailed explanations on how you got your answer. Calculate the average cost. cost of goods available for sale: 6,424
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