Please do not give solution in image format thanku DateApr. 1(a)69142028ExplanationBeginning inventoryPurchasesSalesPurchasesSalesPurchasesCost of goods soldCost of ending inventory$Units Unit Cost/Price5035$(55)40(50)30$216241355245361250Total Cost$10,800Determine the cost of goods sold and cost of ending inventory using average cost. (Round answers to 2 decimal places, e.g. 5,275.25.)8,4359,8007,500

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Description: Please do not give solution in image format thanku DateApr. 1(a)69142028ExplanationBeginning inventoryPurchasesSalesPurchasesSalesPurchasesCost of goods soldCost of ending inventory$Units Unit Cost/Price5035$(55)40(50)30$216241355245361250Total Cost$

Inventory is an Assets because inventory comprises items or products that a firm keeps with the…

Business

Accounting

Date Apr. 1 (a) 6 9 14 20 28 Explanation Beginning inventory Purchases Sales Purchases Sales Purchases Cost of goods sold Cost of ending inventory Units $ 50 35 (55) 40 (50) 30 Unit Cost/Price: $216 241 355 245 361 250 Total Cost $10,800 8,435 Determine the cost of goods sold and cost of ending inventory using average cost. (Round answers to 2 decimal places, e.g. 5,275.25.) 9,800 7,500

Date Apr. 1 (a) 6 9 14 20 28 Explanation Beginning inventory Purchases Sales Purchases Sales Purchases Cost of goods sold Cost of ending inventory Units $ 50 35 (55) 40 (50) 30 Unit Cost/Price: $216 241 355 245 361 250 Total Cost $10,800 8,435 Determine the cost of goods sold and cost of ending inventory using average cost. (Round answers to 2 decimal places, e.g. 5,275.25.) 9,800 7,500

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 32CE: ( Appendix 6B) Inventory Costing Methods: Periodic Average Cost Refer to the information for...

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