### Calculating the Cost of Goods Sold for A67 CompanyThis exercise guides you through calculating the cost of goods sold (COGS) using the weighted average (AVG) method for A67 Company over a month. The transactions are recorded using perpetual inventory updating. Intermediate calculations should be rounded to two decimal places, while final answers should be rounded to the nearest dollar.#### Transactions Summary- **Beginning Inventory**: 840 units at $50 each- **Purchased**: 630 units at $52 each- **Sales**: - First sale: 400 units at $80 each - Second sale: 350 units at $90 each- **Ending Inventory**: 720 units#### Calculation Breakdown1. **Cost of Goods Purchased** - **Purchased:** - Number of Units: 630 - Unit Cost: $52 - Total Cost: $32,7602. **Cost of Goods Sold (COGS)** - First sale and second sale require the calculation of units sold and their costs, which are not detailed here.3. **Cost of Inventory Remaining** - **Beginning:** - Number of Units: 840 - Unit Cost: $50 - Total Cost: $42,000The necessary inputs are provided for calculating COGS and the remaining inventory using the AVG method. Ensure to perform the required calculations in the provided table fields to complete the assessment.For further assistance, use the "Check My Work" feature or reach out for feedback. Once completed, submit your assignment for grading.

Compute the weighted average cost per unit as follows: Cost per unit=Beginning…

Calculate the cost of goods sold dollar value for A67 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for weighted average (AVG). Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount. Number of Units Unit Cost Sales Beginning inventory 840 Purchased 630 52 Sold 400 $80 Sold 350 90 Ending inventory 720 AVG (perpetual) Inventory

Calculate the cost of goods sold dollar value for A67 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for weighted average (AVG). Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount. Number of Units Unit Cost Sales Beginning inventory 840 Purchased 630 52 Sold 400 $80 Sold 350 90 Ending inventory 720 AVG (perpetual) Inventory

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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