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Teal Mountain uses a periodic inventory system. In April, 600 units were sol Units Unit Cost Total Cost April 1 inventory 250 $15.00 $3,750 April 15 purchase 400 20.00 8,000 April 23 purchase 350 24.00 8,400 1,000 $20,150

Teal Mountain uses a periodic inventory system. In April, 600 units were sol Units Unit Cost Total Cost April 1 inventory 250 $15.00 $3,750 April 15 purchase 400 20.00 8,000 April 23 purchase 350 24.00 8,400 1,000 $20,150

FINANCIAL ACCOUNTING
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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View Policies Current Attempt in Progress Teal Mountain uses a periodic inventory system. In April, 600 units were sold and the following additional information is available: Units Unit Cost Total Cost April 1 inventory 250 $15.00 $3,750 April 15 purchase 400 20.00 8,000 April 23 purchase 350 24.00 8,400 1,000 $20,150 Calculate the April 30 inventory and the April cost of goods sold using the weighted average cost formula. (Round the weighted average cost per unit to 2 decimal places, e.g. 15.25 and final answer to 0 decimal places, e.g. 5,125.) April 30 inventory April cost of goods sold
Transcribed Image Text:View Policies Current Attempt in Progress Teal Mountain uses a periodic inventory system. In April, 600 units were sold and the following additional information is available: Units Unit Cost Total Cost April 1 inventory 250 $15.00 $3,750 April 15 purchase 400 20.00 8,000 April 23 purchase 350 24.00 8,400 1,000 $20,150 Calculate the April 30 inventory and the April cost of goods sold using the weighted average cost formula. (Round the weighted average cost per unit to 2 decimal places, e.g. 15.25 and final answer to 0 decimal places, e.g. 5,125.) April 30 inventory April cost of goods sold
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