Costco uses the weighted average inventory cost flow assumption for tracking its inventory. One of its products, bags of frozen berries, is exclusively sold to Smoothie stores across Vancouver. The following transactions took place in March 2023: Date March 1 March 7 March 10 March 14 Transaction Opening inventory Sale #1 Purchase #1 Sale #2 Units 550 300 200 125 Unit Selling Price/Unit Cost $4.50 $8 $3.75 $8.50 Note: See Excel for the table. You may complete the question on word or excel. What is the ending inventory balance in units, and the ending inventory cost (per unit and total) at the end of the month?

Costco uses the weighted average inventory cost flow assumption for tracking its inventory. One of its products, bags of frozen berries, is exclusively sold to Smoothie stores across Vancouver. The following transactions took place in March 2023: Date March 1 March 7 March 10 March 14 Transaction Opening inventory Sale #1 Purchase #1 Sale #2 Units 550 300 200 125 Unit Selling Price/Unit Cost $4.50 $8 $3.75 $8.50 Note: See Excel for the table. You may complete the question on word or excel. What is the ending inventory balance in units, and the ending inventory cost (per unit and total) at the end of the month?

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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