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Spooky Inc. had the following information related to its inventory during 2012. 200 units @ $35 Beginning inventory 800 units @$37 May 15 Sale 500 units @$60 August 29 Purchase 600 units @$39 October 19 Sale 700 units @$60 What is the amount of cost of goods sold and ending inventory which should be reported on the 2012 financial statements assuming Spooky uses the periodic weighted average method? The Answer Cost of Goods Sold is $ 45,000 and Ending Inventory $ 15000 but could you please give the detailed solution of how to calculate the results? Thank you very much sir. March 4 Purchase

Spooky Inc. had the following information related to its inventory during 2012. 200 units @ $35 Beginning inventory 800 units @$37 May 15 Sale 500 units @$60 August 29 Purchase 600 units @$39 October 19 Sale 700 units @$60 What is the amount of cost of goods sold and ending inventory which should be reported on the 2012 financial statements assuming Spooky uses the periodic weighted average method? The Answer Cost of Goods Sold is $ 45,000 and Ending Inventory $ 15000 but could you please give the detailed solution of how to calculate the results? Thank you very much sir. March 4 Purchase

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Spooky Inc. had the following information related to its inventory during 2012. Beginning inventory 200 units @ $35 March 4 Purchase 800 units @$37 May 15 Sale 500 units @$60 August 29 Purchase 600 units @$39 October 19 Sale 700 units @$60 What is the amount of cost of goods sold and ending inventory which should be reported the 2012 financial statements assuming Spooky uses the periodic weighted average method? The Answer Cost of Goods Sold is $ 45,000 and Ending Inventory $ 15000 but could you please give the detailed solution of how to calculate the results? Thank you very much sir.
Transcribed Image Text:Spooky Inc. had the following information related to its inventory during 2012. Beginning inventory 200 units @ $35 March 4 Purchase 800 units @$37 May 15 Sale 500 units @$60 August 29 Purchase 600 units @$39 October 19 Sale 700 units @$60 What is the amount of cost of goods sold and ending inventory which should be reported the 2012 financial statements assuming Spooky uses the periodic weighted average method? The Answer Cost of Goods Sold is $ 45,000 and Ending Inventory $ 15000 but could you please give the detailed solution of how to calculate the results? Thank you very much sir.
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