The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2023 Beginning Feb. 10 Aug. 21 535 units @$90/unit 275 units $87/unit 155 units @$100/unit Stilton Company has two credit sales during the period. The units have a selling price of $150 per unit. Mar. 15 Sales 355 units Sept. 10 260 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 "Average cost per unit" to 2 decimal places. Round the 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, 2023 Beginning Feb. 10 Aug. 21 535 units @$90/unit 275 units $87/unit 155 units @$100/unit Stilton Company has two credit sales during the period. The units have a selling price of $150 per unit. Mar. 15 Sales 355 units Sept. 10 260 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 "Average cost per unit" to 2 decimal places. Round the final answers to 2 decimal places.) Ending Inventory Cost of Goods Sold a. FIFO b. Moving weighted average
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter13: Accounting For Merchandise Inventory
Section: Chapter Questions
Problem 1MP: Hurst Companys beginning inventory and purchases during the fiscal year ended December 31, 20-2,...
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