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Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and (c) gross margin for A75 Company, considering the following transactions. Round your intermediate calculations to 2 decimal places and final answers to nearest whole dollar.   Number of Units Unit Cost Beginning Inventory 125     $43     Purchased Mar. 2 155     45     Sold Mar. 31 for $75 per unit 84         (a) Sales Revenue $fill in the blank 1 (b) Cost of Goods Sold fill in the blank 2 (c) Gross Margin $fill in the blank 3

Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and (c) gross margin for A75 Company, considering the following transactions. Round your intermediate calculations to 2 decimal places and final answers to nearest whole dollar.   Number of Units Unit Cost Beginning Inventory 125     $43     Purchased Mar. 2 155     45     Sold Mar. 31 for $75 per unit 84         (a) Sales Revenue $fill in the blank 1 (b) Cost of Goods Sold fill in the blank 2 (c) Gross Margin $fill in the blank 3

FINANCIAL ACCOUNTING
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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Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and (c) gross margin for A75 Company, considering the following transactions. Round your intermediate calculations to 2 decimal places and final answers to nearest whole dollar.

  Number
of Units		 Unit
Cost
Beginning Inventory 125     $43    
Purchased Mar. 2 155     45    
Sold Mar. 31 for $75 per unit 84      

 

(a) Sales Revenue $fill in the blank 1
(b) Cost of Goods Sold fill in the blank 2
(c) Gross Margin $fill in the blank 3
**Inventory Cost Calculation Using Weighted-Average Method** The task is to calculate the following for A75 Company using the weighted-average (AVG) cost allocation method with perpetual inventory updating: 1. **Sales Revenue** 2. **Cost of Goods Sold (COGS)** 3. **Gross Margin** The transactions to consider are: - **Beginning Inventory:** - Number of Units: 125 - Unit Cost: $43 - **Purchase on March 2:** - Number of Units: 155 - Unit Cost: $45 - **Sales on March 31:** - Units Sold: 84 - Selling Price per Unit: $75 ### Instructions: - Round intermediate calculations to 2 decimal places. - Round final answers to the nearest whole dollar. ### Calculation Fields: 1. **Sales Revenue:** Enter the total revenue generated from sales. 2. **Cost of Goods Sold (COGS):** Enter the total cost of the goods that were sold. 3. **Gross Margin:** Enter the difference between Sales Revenue and Cost of Goods Sold. Complete the calculations to determine these financial measures.
Transcribed Image Text:**Inventory Cost Calculation Using Weighted-Average Method** The task is to calculate the following for A75 Company using the weighted-average (AVG) cost allocation method with perpetual inventory updating: 1. **Sales Revenue** 2. **Cost of Goods Sold (COGS)** 3. **Gross Margin** The transactions to consider are: - **Beginning Inventory:** - Number of Units: 125 - Unit Cost: $43 - **Purchase on March 2:** - Number of Units: 155 - Unit Cost: $45 - **Sales on March 31:** - Units Sold: 84 - Selling Price per Unit: $75 ### Instructions: - Round intermediate calculations to 2 decimal places. - Round final answers to the nearest whole dollar. ### Calculation Fields: 1. **Sales Revenue:** Enter the total revenue generated from sales. 2. **Cost of Goods Sold (COGS):** Enter the total cost of the goods that were sold. 3. **Gross Margin:** Enter the difference between Sales Revenue and Cost of Goods Sold. Complete the calculations to determine these financial measures.
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