The following inventory transactions took place for Blossom Ltd. for the year ended December 31, 2023: Cost/ Selling Date Event Quantity Price Jan 1 beginning inventory 20,160 $44.75 Jan 5 sale 6,120 69.95 Feb 15 purchase 33,900 41.25 Mar 10 purchase 10,420 46.00 May 20 sale 41,800 69.95 Aug 22 purchase 14,000 42.00 Sep 12 sale 20,300 69.95 Nov 24 purchase 9,300 43.95 Dec 5 sale 14,800 69.95 Calculate the ending inventory balance for Blossom Ltd. assuming the company uses a perpetual inventory system and the moving- average cost formula. Also calculate the per-unit cost of the last item sold. (Round unit costs to 2 decimal places, eg. 52.75 and ending inventory to O decimal places, eg 5,275.) Ending inventory $
The following inventory transactions took place for Blossom Ltd. for the year ended December 31, 2023: Cost/ Selling Date Event Quantity Price Jan 1 beginning inventory 20,160 $44.75 Jan 5 sale 6,120 69.95 Feb 15 purchase 33,900 41.25 Mar 10 purchase 10,420 46.00 May 20 sale 41,800 69.95 Aug 22 purchase 14,000 42.00 Sep 12 sale 20,300 69.95 Nov 24 purchase 9,300 43.95 Dec 5 sale 14,800 69.95 Calculate the ending inventory balance for Blossom Ltd. assuming the company uses a perpetual inventory system and the moving- average cost formula. Also calculate the per-unit cost of the last item sold. (Round unit costs to 2 decimal places, eg. 52.75 and ending inventory to O decimal places, eg 5,275.) Ending inventory $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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am. 118.
Transcribed Image Text:The following inventory transactions took place for Blossom Ltd. for the year ended December 31, 2023:
-16 ==
Cost/
Selling
Date
Event
Quantity
Price
Jan 1
beginning inventory
20,160
$44.75
Jan 5
sale
6,120
69.95
Feb 15
purchase
33,900
41.25
Mar 10
purchase
10,420
46.00
May 20
sale
41,800
69.95
Aug 22
purchase
14,000
42.00
Sep 12
sale
20,300
69.95
Nov 24
purchase
9,300
43.95
Dec 5
sale
14,800
69.95
Calculate the ending inventory balance for Blossom Ltd., assuming the company uses a perpetual inventory system and the moving-
average cost formula. Also calculate the per-unit cost of the last item sold. (Round unit costs to 2 decimal places, eg. 52.75 and ending
inventory to O decimal places, eg 5,275.)
Ending inventory
$
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