answer in text form please (without image) 6.Determine the cost assigned to ending inventory, cost of goods sold and Gross Profit using WeightedAverage.DateApril 1April 4April 7April 10April 16 SalesDateActivitiesBeginning inventory 175 units @ $15 = $2,625Purchase150 units@ $16 = $2,400SalesPurchase200 units @ $17 = $3,400PurchasesEnding Inventory:Cost of Goods Sold:Gross Profit:Units Acquired at CostUnitsCost of Goods SoldSold at Retail160 units @ $30250 units @ $30Inventory on hand

Weighted average is a method of inventory valuation.. In this method inventory is based on the…

6. Determine the cost assigned to ending inventory, cost of goods sold and Gross Profit using Weighted Average. Date April 1 April 4 April 7 April 10 April 16 Sales Date Activities Beginning inventory Purchase Sales Purchase Purchases Ending Inventory: Cost of Goods Sold: Gross Profit: Units Acquired at CostUnits 175 units@ $15 = $2,625 150 units@ $16 = $2,400 200 units $17 = $3,400 Cost of Goods Sold Sold at Retail 160 units @ $30 250 units @ $30 Inventory on hand

6. Determine the cost assigned to ending inventory, cost of goods sold and Gross Profit using Weighted Average. Date April 1 April 4 April 7 April 10 April 16 Sales Date Activities Beginning inventory Purchase Sales Purchase Purchases Ending Inventory: Cost of Goods Sold: Gross Profit: Units Acquired at CostUnits 175 units@ $15 = $2,625 150 units@ $16 = $2,400 200 units $17 = $3,400 Cost of Goods Sold Sold at Retail 160 units @ $30 250 units @ $30 Inventory on hand

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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