DeForest Company had the following transactions for the month. Sales for the month are $85 per unit. Number of Units Cost per Unit Total Beginning inventory 500 $40 $20,000 Purchased Apr. 30 600 45 27,000 Purchased Aug. 15 650 40 26,000 Purchased Dec. 10 700 35 24,500 Totals (goods available) 2,450 97,500 Ending Inventory 550 ? In the table below, calculate the dollar value for the period for each of the following items using the listed cost allocation methods and using periodic inventory updating. PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" with commas as needed (i.e. $12,345), except for the Weighted Average cost per unit, which will be rounded to two decimal places and include "$" (i.e. $12,345.67). 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)
1.
DeForest Company had the following transactions for the month. Sales for the month are $85 per unit.
Number of Units Cost per Unit Total
Beginning inventory 500 $40 $20,000
Purchased Apr. 30 600 45 27,000
Purchased Aug. 15 650 40 26,000
Purchased Dec. 10 700 35 24,500
Totals (goods available) 2,450 97,500
Ending Inventory 550 ?
In the table below, calculate the dollar value for the period for each of the following items using the listed cost allocation methods and using periodic inventory updating.
PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" with commas as needed (i.e. $12,345), except for the Weighted Average cost per unit, which will be rounded to two decimal places and include "$" (i.e. $12,345.67).
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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