Sarasota Corporation uses a perpetual inventory system. On November 19, the company sold 610 units. The following additional information is available: Nov. 1 inventory Nov. 15 purchase Nov. 23 purchase (a) Units 330 430 390 1,150 Unit Cost $11 15 16 Total Cost $3,630 6,450 6,240 $16,320 Calculate the November 30 inventory and the November cost of goods sold, using the moving-average cost formula. (Round unit cost to 2 decimal places, e.g. 52.75 and final answers to O decimal places. e.g. 5,275.)
Sarasota Corporation uses a perpetual inventory system. On November 19, the company sold 610 units. The following additional information is available: Nov. 1 inventory Nov. 15 purchase Nov. 23 purchase (a) Units 330 430 390 1,150 Unit Cost $11 15 16 Total Cost $3,630 6,450 6,240 $16,320 Calculate the November 30 inventory and the November cost of goods sold, using the moving-average cost formula. (Round unit cost to 2 decimal places, e.g. 52.75 and final answers to O decimal places. e.g. 5,275.)
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...
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![Sarasota Corporation uses a perpetual inventory system. On November 19, the company sold 610 units. The
following additional information is available:
Nov. 1 inventory
Nov. 15 purchase
Nov. 23 purchase
(a)
Cost of goods sold
Units
330
Ending inventory
430
390
1,150
$
Unit Cost
ta
$11
15
16
Total Cost
Calculate the November 30 inventory and the November cost of goods sold, using the moving-average
cost formula. (Round unit cost to 2 decimal places, e.g. 52.75 and final answers to O decimal places. e.g.
5,275.)
$3,630
6,450
6,240
$16,320](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8c9bd05f-6074-441f-9db3-22fefc0ae245%2Ff7d1faac-6de1-4d3c-9691-ad033878660d%2F57qqjjc_processed.png&w=3840&q=75)
Transcribed Image Text:Sarasota Corporation uses a perpetual inventory system. On November 19, the company sold 610 units. The
following additional information is available:
Nov. 1 inventory
Nov. 15 purchase
Nov. 23 purchase
(a)
Cost of goods sold
Units
330
Ending inventory
430
390
1,150
$
Unit Cost
ta
$11
15
16
Total Cost
Calculate the November 30 inventory and the November cost of goods sold, using the moving-average
cost formula. (Round unit cost to 2 decimal places, e.g. 52.75 and final answers to O decimal places. e.g.
5,275.)
$3,630
6,450
6,240
$16,320
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