The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2023. Beginning 640 units @ $75/unitFeb. 10 350 units @ $72/unitAug. 21 230 units @ $85/unit Stilton Company has two credit sales during the period. The units have a selling price of $135.00 per unit. Sales Mar.15430 units Sept.10335 units Stilton Company uses a perpetual inventory system. Required: 1. Calculate the dollar value of cost of goods sold and ending inventory using: (Do not round intermediate calculations. Round the "Weighted-average cost" to 2 decimal places. Round final answers to 2 decimal places.)
The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2023. Beginning 640 units @ $75/unitFeb. 10 350 units @ $72/unitAug. 21 230 units @ $85/unit Stilton Company has two credit sales during the period. The units have a selling price of $135.00 per unit. Sales Mar.15430 units Sept.10335 units Stilton Company uses a perpetual inventory system. Required: 1. Calculate the dollar value of cost of goods sold and ending inventory using: (Do not round intermediate calculations. Round the "Weighted-average cost" to 2 decimal places. Round final answers to 2 decimal places.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The Stilton Company has the following inventory and credit purchases during the fiscal year ended December
31, 2023.
Beginning 640 units @ $75/unitFeb. 10 350 units @ $72/unitAug. 21 230 units @ $85/unit
Stilton Company has two credit sales during the period. The units have a selling price of $135.00 per unit.
Sales Mar.15430 units Sept.10335 units
Stilton Company uses a perpetual inventory system.
Required:
1. Calculate the dollar value of cost of goods sold and ending inventory using: (Do not round intermediate
calculations. Round the "Weighted-average cost" to 2 decimal places. Round final answers to 2 decimal
places.)
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