TB EX Qu. 6-208 During 2021, a company sells...During 2021, a company sells 470 units of inventory for $94 each. The company has the following inventory purchase transactions for2021:NumberUnitDateTransactionof UnitsCost Total Cost$78 $ 5,694Jan. 1 Beginning inventoryMay 5 PurchaseNov. 3 Purchase732627920,6981818114,661516$41,053Calculate cost of goods sold and ending inventory for 2021 assuming the company uses the weighted-average cost method. (Roundweighted-average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.)Cost of goods soldEnding inventory< Prev16 of 21Next >here to searchASUS

Name: TB EX Qu. 6-208 During 2021, a company sells...During 2021, a company
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Description: TB EX Qu. 6-208 During 2021, a company sells...During 2021, a company sells 470 units of inventory for $94 each. The company has the following inventory purchase transactions for2021:NumberUnitDateTransactionof UnitsCost Total Cost$78 $ 5,694Jan. 1

Average cost per unit = Cost of goods available for sales / Total units available for sale = $41,053…

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During 2021, a company sells 470 units of inventory for $94 each. The company has the following inventory purchase transactions for 2021: Number of Units Unit Date Transaction Cost Total Cost $78 $ 5,694 Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase- 73 262 79 20,698 14,661 181 81 516 $41,053 Calculate cost of goods sold and ending inventory for 2021 assuming the company uses the weighted-average cost method. (Round weighted-average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.) Cost of goods sold Ending inventory

During 2021, a company sells 470 units of inventory for $94 each. The company has the following inventory purchase transactions for 2021: Number of Units Unit Date Transaction Cost Total Cost $78 $ 5,694 Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase- 73 262 79 20,698 14,661 181 81 516 $41,053 Calculate cost of goods sold and ending inventory for 2021 assuming the company uses the weighted-average cost method. (Round weighted-average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.) Cost of goods sold Ending inventory

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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