Required: The following incomplete inventory sheet regarding Product W506 is available for the month of March 2023. Complete inventory sheet. (Use the value of the ending inventory as your base number and adjust the COGS $ amount to the required amount to make the Total Goods Available for Sale to the total of the Value of the ending inventory and the COGS total. Negative value should be indicated with minus sign. Round your Intermediate and final answers to 2 decimal places.) 23 Date Units Cost/Unit Mar. 1 Brought Forward 35 $ 4 7 17 28 moving weighted average Totals 40 Purchases/Transportation-In/ (PurchaseReturns/Discounts) 96.00 97.00 Goods Available for Sale Total $ Cost of Goods Sold/(Returns to Inventory) Units 22 (2) 65 43 Cost/Unit Goods Sold costing. Total $ Units 60 $ Balance in Inventory Avg Cost/Unit Ending Inventory 94.00 $ Total $ 5,640.00

Required: The following incomplete inventory sheet regarding Product W506 is available for the month of March 2023. Complete inventory sheet. (Use the value of the ending inventory as your base number and adjust the COGS $ amount to the required amount to make the Total Goods Available for Sale to the total of the Value of the ending inventory and the COGS total. Negative value should be indicated with minus sign. Round your Intermediate and final answers to 2 decimal places.) 23 Date Units Cost/Unit Mar. 1 Brought Forward 35 $ 4 7 17 28 moving weighted average Totals 40 Purchases/Transportation-In/ (PurchaseReturns/Discounts) 96.00 97.00 Goods Available for Sale Total $ Cost of Goods Sold/(Returns to Inventory) Units 22 (2) 65 43 Cost/Unit Goods Sold costing. Total $ Units 60 $ Balance in Inventory Avg Cost/Unit Ending Inventory 94.00 $ Total $ 5,640.00

Name: H1. Telamark Company uses the moving weighted average method for inven
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: H1. Telamark Company uses the moving weighted average method for inventory costing.Required:The following incomplete inventory sheet regarding Product W506 is available for the month of March 2023. Complete theinventory sheet. (Use the value of the e

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 24CE: Inventory Costing: Average Cost Refer to the information for Filimonov Inc. and assume that the...

See similar textbooks

Similar questions

Bleistine Company had the following transactions for the month. Calculate the ending inventory dollar value for each of the following cost allocation methods, using periodic inventory updating. Provide your calculations. A. first-in, first-out (FIFO) B. last-in, first-out (LIFO) C. weighted average (AVG)
Akira Company had the following transactions for the month. Calculate the ending inventory dollar value for the period for each of the following cost allocation methods, using periodic inventory updating. Provide your calculations. A. first-in, first-out (FIFO) B. last-in, first-out (LIFO) C. weighted average (AVG)
DeForest Company had the following transactions for the month. Calculate the ending inventory dollar value for the period for each of the following cost allocation methods, using periodic inventory updating. Provide your calculations. A. first-in, first-out (FIFO) B. last-in, first-out (LIFO) C. weighted average (AVG)
Calculate the cost of goods sold dollar value for A66 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO).
Calculate the cost of goods sold dollar value for B67 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for weighted average (AVG).
Bleistine Company had the following transactions for the month. Calculate the gross margin for the period for each of the following cost allocation methods, using periodic inventory updating. Assume that all units were sold for $50 each. Provide your calculations. A. first-in, first-out (FIFO) B. last-in, first-out (LIFO) C. weighted average (AVG)
Calculate the cost of goods sold dollar value for A65 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for first-in, first-out (FIFO).
Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO).
Use the last-in, first-out (LIFO) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and c) gross margin for A75 Company, considering the following transactions.
Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average (AVG).
Akira Company had the following transactions for the month. Calculate the gross margin for the period for each of the following cost allocation methods, using periodic inventory updating. Assume that all units were sold for $25 each. Provide your calculations. A. first-in, first-out (FIFO) B. last-in, first-out (LIFO) C. weighted average (AVG)
Refer to the information for Morgan Inc. above. If Morgan uses a perpetual inventory system, what is the cost of ending inventory under FIFO at April 30? a. $32,500 b. $38,400 c. $63,600 d. $69,500