Akira Company had the following transactions for the year. Sales for the year are $25 per unit. Number of units Cost per Unit Beginning Inventory 150 $10 Purchased Mar. 31 160 12 Purchased Oct. 15 130 15 Ending Inventory 50 ? In the table below, calculate the dollar value for the period for each of the following items using the listed cost allocation methods and using periodic inventory updating. PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" with commas as needed (i.e. $12,345), except for the Weighted Average cost per unit, which will be rounded to two decimal places and include "$". [HINT - I strongly encourage you to use the EXCEL worksheet I provided in this week's module. It will save you time and effort.] Weighted-average cost per unit = ? per unit. Cost Allocation Method Cost of Goods Available Cost of Goods Sold Ending Inventory Sales Gross Margin First-in, First-out (FIFO) Last-in, First-out (LIFO) Weighted Average (AVG)
Akira Company had the following transactions for the year. Sales for the year are $25 per unit.
Number of units Cost per Unit
Beginning Inventory 150 $10
Purchased Mar. 31 160 12
Purchased Oct. 15 130 15
Ending Inventory 50 ?
In the table below, calculate the dollar value for the period for each of the following items using the listed cost allocation methods and using periodic inventory updating.
PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" with commas as needed (i.e. $12,345), except for the Weighted Average cost per unit, which will be rounded to two decimal places and include "$".
[HINT - I strongly encourage you to use the EXCEL worksheet I provided in this week's module. It will save you time and effort.]
Weighted-average cost per unit = ? per unit.
| Cost Allocation Method | Cost of Goods Available | Cost of Goods Sold |
Ending Inventory |
Sales |
Gross Margin |
|
First-in, First-out (FIFO) |
|||||
|
Last-in, First-out (LIFO) |
|||||
|
Weighted Average (AVG) |
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