The following information relates to Oriole Kitchen Ltd's inventory transactions during the month of March. Mar. 1 7 12 16 18 27 29 Beginning inventory Sale Purchase Purchase Sale Purchase Sale Units Cost/Unit Amount 4,200 $18 $75,600 2,800 1,750 560 1,750 2,800 2.450 All of the units sold were priced at $65 per unit. $20 $35,000 $20 $11.200 $23 $64,400
The following information relates to Oriole Kitchen Ltd's inventory transactions during the month of March. Mar. 1 7 12 16 18 27 29 Beginning inventory Sale Purchase Purchase Sale Purchase Sale Units Cost/Unit Amount 4,200 $18 $75,600 2,800 1,750 560 1,750 2,800 2.450 All of the units sold were priced at $65 per unit. $20 $35,000 $20 $11.200 $23 $64,400
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
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 8MC: At December 31, 2019, the following information was available from Crisford Companys books: Sales...
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Transcribed Image Text:Oriole Kitchen Ltd, uses the periodic inventory system.
Calculate Oriole Kitchen's cost of goods sold, gross margin, and ending inventory for the month of March using weighted-average.
(Round calculations for cost per unit to 2 decimal places, eg. 10.52 and final answers to O decimal places, e.g. 61,052.)
Cost of goods sold
Gross margin
Ending inventory
$
$
$
Transcribed Image Text:The following information relates to Oriole Kitchen Ltd's inventory transactions during the month of March.
Mar. 1
7
12
16
18
27
29
Beginning inventory
Sale
Purchase
Purchase
Sale
Purchase
Sale
Units
4,200
2,800
1,750
560
1,750
2,800
2.450
Cost/Unit.
$18
All of the units sold were priced at $65 per unit.
Amount
$75,600
$20
$35,000
$20 $11.200
$23
$64,400
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