January 1 inventory April 1 June 1 November 1 Cost of ending inventory Number purchased Cost per unit 43 $4 63 53 58 217 Cost of goods sold 7 8 9 Total $ 172 441 a. Calculate the cost of ending inventory using the weighted-average method (ending inventory shows 64 units). Note: Round the "average unit cost" and final answer to the nearest cent. 424 522 $ 1,559 b. Calculate the cost of goods sold using the weighted-average method. Note: Round your intermediate calculations and final answer to the nearest cent.

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
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Given the following:
January 1 inventory
April 1
June 1
November 1
Cost of ending inventory
Number
purchased Cost per unit
43
$4
63
53
58
217
789
Cost of goods sold
Total
a. Calculate the cost of ending inventory using the weighted-average method (ending inventory shows 64
units).
Note: Round the "average unit cost" and final answer to the nearest cent.
$ 172
441
424
522
$ 1,559
b. Calculate the cost of goods sold using the weighted-average method.
Note: Round your intermediate calculations and final answer to the nearest cent.
Transcribed Image Text:Given the following: January 1 inventory April 1 June 1 November 1 Cost of ending inventory Number purchased Cost per unit 43 $4 63 53 58 217 789 Cost of goods sold Total a. Calculate the cost of ending inventory using the weighted-average method (ending inventory shows 64 units). Note: Round the "average unit cost" and final answer to the nearest cent. $ 172 441 424 522 $ 1,559 b. Calculate the cost of goods sold using the weighted-average method. Note: Round your intermediate calculations and final answer to the nearest cent.
Expert Solution
Step 1: Evaluation of Average cost of inventory

Average cost of inventoryequals fraction numerator T o t a l space cos t over denominator u n i t s end fraction

equals 1559 over 217

equals $ space bold 7 bold. bold 184332

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