Cost/ Selling Date Event Quantity Price Jan 1 beginning inventory 23,300 $45.00 Jan 5 sale 5,300 78.00 Feb 15 purchase 32,000 40.25 Mar 10 purchase 5,500 45.00 May 20 sale 40,100 78.00 Aug 22 purchase 15,000 38.50 Sep 12 sale 20,300 78.00 Nov 24 purchase 10,000 43.50 Dec 5 sale 17,500 78.00 Calculate the ending inventory balance for Carla Vista Ltd., assuming the company uses a perpetual inventory system and the first-in, first-out cost formula. Also calculate the per-unit cost of the last item sold. (Round unit costs to 2 decimal places, e.g. 52.75 and ending inventory to 0 decimal places, e.g. 5,276.) Ending inventory $ 287100 Unit cost of the last item sold $ 39.47
Cost/ Selling Date Event Quantity Price Jan 1 beginning inventory 23,300 $45.00 Jan 5 sale 5,300 78.00 Feb 15 purchase 32,000 40.25 Mar 10 purchase 5,500 45.00 May 20 sale 40,100 78.00 Aug 22 purchase 15,000 38.50 Sep 12 sale 20,300 78.00 Nov 24 purchase 10,000 43.50 Dec 5 sale 17,500 78.00 Calculate the ending inventory balance for Carla Vista Ltd., assuming the company uses a perpetual inventory system and the first-in, first-out cost formula. Also calculate the per-unit cost of the last item sold. (Round unit costs to 2 decimal places, e.g. 52.75 and ending inventory to 0 decimal places, e.g. 5,276.) Ending inventory $ 287100 Unit cost of the last item sold $ 39.47
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Cost/
Selling
Date
Event
Quantity
Price
Jan 1
beginning inventory
23,300
$45.00
Jan 5
sale
5,300
78.00
Feb 15
purchase
32,000
40.25
Mar 10
purchase
1,500
45.00
May 201
sale
40,100
78.00
Aug 22
purchase
15,000
38.50
Sep 12
sale
20,300
78.00
Nov 24
purchase
10,000
43.50
Dec 5
sale
17,500
78.00
Calculate the ending inventory balance for Carla Vista Ltd., assuming the company uses a perpetual inventory system and the first-in,
first-out cost formula. Also calculate the per-unit cost of the last item sold. (Round unit costs to 2 decimal places, e.g. 52.75 and
ending inventory to 0 decimal places, e.g. 5,276.)
Ending inventory
$
287100
Unit cost of the last item sold
$
39.47
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