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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Glasgow Corporation has the following inventory transactions during the year.
Unit
Number of Units
53
133
Cost
$ 45
47
Total Cost
$ 2,385
6,251
10,150
5,763
Date
Transaction
Jan. 1 Beginning inventory
Purchase
Purchase
Purchase
Apr. 7
Jul.16
203
50
Oct. 6
113
51
502
$24,549
For the entire year, the company sells 433 units of inventory for $63 each.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F795e60d9-3b88-497f-9ce1-b8440a91a1ae%2Feb7a9760-58cf-42e2-8228-df3b373b903c%2Fefiw61o_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Glasgow Corporation has the following inventory transactions during the year.
Unit
Number of Units
53
133
Cost
$ 45
47
Total Cost
$ 2,385
6,251
10,150
5,763
Date
Transaction
Jan. 1 Beginning inventory
Purchase
Purchase
Purchase
Apr. 7
Jul.16
203
50
Oct. 6
113
51
502
$24,549
For the entire year, the company sells 433 units of inventory for $63 each.
![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
53
2.385
Purchases.
Apг 07
133
6,251
Jul 16
203
10,150
Oct 06
113
5,763
Total
502
$4
24,549
Sales revenue
Gross profit
%24](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F795e60d9-3b88-497f-9ce1-b8440a91a1ae%2Feb7a9760-58cf-42e2-8228-df3b373b903c%2Fm6fh8pb_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
53
2.385
Purchases.
Apг 07
133
6,251
Jul 16
203
10,150
Oct 06
113
5,763
Total
502
$4
24,549
Sales revenue
Gross profit
%24
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