Given the following: Number purchased Cost per unit Total January 1 inventory 39 $ 5 $ 195 April 1 59 8 472 June 1 49 9 441 November 1 54 10 540 201 $ 1,648 a. Calculate the cost of ending inventory using the weighted-average method (ending inventory shows 60 units). (Do not round intermediate calculations. Round your final answer to the nearest cent.) b. Calculate the cost of goods sold using the weighted-average method. (Use your rounded answer from Part a. Round your final answer to the nearest cent.)

Q: Ayayai Company Inc. had a beginning inventory of 80 units of Product RST at a cost of $6 per unit.…

A: Inventory valuation is based on the flow-off issue used by the organization. It can be the first in…

Q: Novak Corp. Inc. had a beginning inventory of 100 units of Product RST at a cost of $9 per unit.…

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Q: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,…

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Q: It says the answer is complete but not correct . Can you tell me the right answers

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Q: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,…

A: Cost of goods purchased Cost of goods sold Cost of InventoryRemaining   Units Unit cost…

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A: under FIFO method ,inventory cogs recognized on the basis of first remaining purchase unit in stock.

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A: The Last-In, First-Out (LIFO) strategy expects that the last unit to show up in stock or later is…

Q: Retail Inventory Method Harmes Company is a dothing store that uses the retail inventory method. The…

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Q: Compute the cost of the ending inventory under the average-cost method, assuming there are 100 units…

A: Given,  Units in ending inventory = 100 units. First, compute the weighted average cost per unit as…

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the…

A: Ending inventory refers to value of goods readily available for sale and held by company at end of…

Q: Current Attempt in Progress Sarasota Ltd. uses the perpetual inventory system and reports the…

A: The various methods for inventory valuation are classified as FIFO, LIFO and average cost method.…

Q: Calculate the weighted-average unit cost. (Round answers to 3 decimal places, e.g. 5.125.) September…

A: Mainly ending inventory can be valued in three method  namely FIFO, Weighted average cost and LIFO…

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Q: 4. Compute the cost of ending inventory and cost of goods sold using the average cost inventory…

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Q: For each of the following cost flow assumptions, calculate cost of goods sold, ending inventory, and…

A: Step 1: FIFO Since this is a FIFO (First In, First Out) method, the inventories to be sold first…

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A: Finished goods inventory: These inventories are completely ready for sale after the completion of…

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the…

A: Weighted Average Method is one of the methods of inventory valuation in which it is assumed that…

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Q: Given the following: Number purchased Cost per unit Total January 1 inventory 39 $…

A:

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A: Cost of goods available for sale means for for how much cost of goods can be sold in the particular…

Q: Cost of Goods Sold (FIFO): Units Unit Cost

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Q: Given the following:   Number purchased Cost per unit Total January 1 inventory   30     $ 5     $…

A: LIFO: LIFO stands for Last-In, First-Out. In this method inventory purchased at last will be sold…

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A: FIFO stands for First-in-first-out. It refers to the method of valuing inventory in which goods…

Q: Using the LIFO​ method, calculate the cost of ending inventory and cost of goods sold for Cambell…

A: The question is based on the Concept of Cost Accounting.

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A: Introduction:- Calculation of inventory valuation as follows under:- Formula Cost or Market…

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A: The weighted average cost per unit is calculated as total cost divided by no. Of units.

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A: Inventory costing is an important function that is carried out by most of the organizations that…

Q: he following data are available for Sellco for the fiscal year ended on January 31, 2020:…

A: Calculation of COGS and ending inventory: FIFO COGS= (500*4)+(600*5)+(500*6) =2000+ 3000 +3000 =$…

Q: Need help

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A: Inventory valuation is the process of assigning a monetary value to the goods and materials held by…

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Q: Solve the problem using the information given in the table and the weighted-average inventory…

A: Number of Units Sold 67 units Date of Purchase Units Cost per unit Beginning Inventory 25…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.