Consider the following transactions for A67 Company for the month shown in chronological order: Number of Units Cost per Unit Sales Beginning inentory 800 $50 Purchased 600 52 Sold 400 $80 Sold 350 90 Ending Inventory 650 In the table below, calculate the dollar value for the period for each of the following items using the listed cost allocation methods and using perpetual inventory updating. PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" with commas as needed (i.e. $12,345), except for the Weighted Average cost per unit, which will be rounded
Consider the following transactions for A67 Company for the month shown in chronological order:
Number of Units Cost per Unit Sales
Beginning inentory 800 $50
Purchased 600 52
Sold 400 $80
Sold 350 90
Ending Inventory 650
In the table below, calculate the dollar value for the period for each of the following items using the listed cost allocation methods and using perpetual inventory updating.
PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" 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 worksheet format shown in the textbook in Figure 10.15 (p.678), Figure 10.17 (p.679) and Figure 10.19 (p.681). The EXCEL worksheet is not designed for perpetual inventory problems.]
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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