The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020.Beginning640 units e $75/unit350 units e $72/unit230 units @ $85/unitFeb. 10Aug. 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-everage cost" to 2 decimalplaces. Round final answers to 2 decimal places.)Cost of GoodsSoldEnding Inventorya. FIFOb. Moving weighted average

given that, goods available for sale = 640 + 350 + 230 = 1220 units number of units sold = 430 +…

The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020. Beginning Feb. 10 640 units e s75/unit 35e units e $72/unit 230 units e sa5/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 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 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 s75/unit 35e units e $72/unit 230 units e sa5/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 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 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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