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Date of purchase Beginning inventory February 5 February 19 March 3 Goods available for sale Units sold Ending inventory Units purchased 41 21 18 30 80 Cost per Total unit cost $830 $1,750 $975 $480 Retail price per unit $975 $2,105 $1,996 $600 Total reta value

Date of purchase Beginning inventory February 5 February 19 March 3 Goods available for sale Units sold Ending inventory Units purchased 41 21 18 30 80 Cost per Total unit cost $830 $1,750 $975 $480 Retail price per unit $975 $2,105 $1,996 $600 Total reta value

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Data table Date of purchase Beginning inventory February 5 February 19 March 3 Goods available for sale Units sold Ending inventory Units Cost per Total Retail price purchased cost per unit 41 21 18 30 80 unit $830 $1,750 $975 $480 $975 $2,105 $1,996 $600 Total retail value
Transcribed Image Text:Data table Date of purchase Beginning inventory February 5 February 19 March 3 Goods available for sale Units sold Ending inventory Units Cost per Total Retail price purchased cost per unit 41 21 18 30 80 unit $830 $1,750 $975 $480 $975 $2,105 $1,996 $600 Total retail value
Complete the inventory table by calculating the total cost of purchases, the goods available for sale, the cost of the goods available for sale, and the ending inventory. Date of purchase Beginning inventory Units Cost per purchased unit 41 $830 Total cost Retail price Total retail per unit value $975
Transcribed Image Text:Complete the inventory table by calculating the total cost of purchases, the goods available for sale, the cost of the goods available for sale, and the ending inventory. Date of purchase Beginning inventory Units Cost per purchased unit 41 $830 Total cost Retail price Total retail per unit value $975
Expert Solution
Introduction

# Total cost of purchase = total units purchased * cost per unit of purchase

# Goods available for sale = inventory  + other purchases on 5th feb , 19th feb & 3rd march

# Cost of the goods available for sale  = total available goods * cost per unit 

# # Ending inventory = units available to sale - actual sales 

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