4. How much are the ending inventory and cost of sales underthe Weighted Average cost formula? (The average iscalculated as each additional purchase is made, i.e., 'movingaverage'.)Ending inventoryCost of salesa. 116,832b. 116,382207,918207,918c. 118,685d. 116,495205,615207,805 Cost formulaInformation on Entity A's inventory of Product A is as follows:Units3,000Unit CostTotal CostBalance at Jan.1P19.55P 58,650Purchases:Jan. 6Jan. 2610,20021.50219,3002,25020.6046,350Sales:Jan. 7Jan. 312,7007,200

Weighted Average Method:-It is the cost per unit obtained by dividing the total cost of inventory by…

Information on Entity A's inventory of Product A is as follows: Units 3,000 Unit Cost Total Cost P 58,650 Balance at Jan. 1 P19.55 Purchases: Jan. 6 Jan. 26 10,200 2,250 21.50 219,300 20.60 46,350 Sales: Jan. 7 Jan. 31 2,700 7,200

Information on Entity A's inventory of Product A is as follows: Units 3,000 Unit Cost Total Cost P 58,650 Balance at Jan. 1 P19.55 Purchases: Jan. 6 Jan. 26 10,200 2,250 21.50 219,300 20.60 46,350 Sales: Jan. 7 Jan. 31 2,700 7,200

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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