The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020.Beginning640 units e $75/unit350 units @ $72/unit230 units @ $85/unitFeb. 18Aug. 21Stilton Company has two credit sales during the period. The units have a selling price of $135.00 per unit.SalesMar.15430 unitsSept. 10335 unitsStilton Company uses a periodic Inventory costing system.Requlred:1. Calculate the dollar value of cost of goods sold and ending inventory using: (Round the "Welghted-average cost" to 2 decimalplaces. Round final answers to 2 decimal places.)Ending InventoryCost of GoodsSolda.FIFOb.Moving weighted average

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The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020. Beginning Feb. 10 640 units e $75/unit 350 units e $72/unit 230 units @ s85/unit Aug. 21 Stilton Company has two credit sales during the perlod. The units have a selling price of $135.00 per unit. Sales Mar. 15 Sept. 10 430 units 335 units Stilton Company uses a perlodic Inventory costing system. Required: 1. Calculate the dollar value of cost of goods sold and ending Inventory using: (Round the "Welghted-average cost" to 2 decimal places. Round final answers to 2 decimal places.) Ending Inventory Cost of Goods Sold a. FIFO b. Moving weighted average

The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020. Beginning Feb. 10 640 units e $75/unit 350 units e $72/unit 230 units @ s85/unit Aug. 21 Stilton Company has two credit sales during the perlod. The units have a selling price of $135.00 per unit. Sales Mar. 15 Sept. 10 430 units 335 units Stilton Company uses a perlodic Inventory costing system. Required: 1. Calculate the dollar value of cost of goods sold and ending Inventory using: (Round the "Welghted-average cost" to 2 decimal places. Round final answers to 2 decimal places.) Ending Inventory Cost of Goods Sold a. FIFO b. Moving weighted average

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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[The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail Units Acquired at Cost 80 units @ $50.60 per unit 215 units @ $55.60 per unit Date Activities March 1 Beginning inventory Purchase Sales March 5 240 units @ $85.60 per unit March 9 March 18 Purchase Purchase 75 units @ s60.60 per unit |130 units @ S62.60 per unit March 25 March 29 Sales 110 units @ S95.60 per unit Totals 500 units 350 units Ces Problem 5-1A (Algo) Part 2 2. Compute the number of units in ending inventory. Ending inventory units
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