Your answer is incorrect. Inventory data for Shamrock Company are reported as follows: Number of Date Explanation Units Unit Cost Total Cost June 1 Beginning inventory 370 $5 $1,850 12 Purchase 570 6 3,420 23 Purchase 470 7 3,290 Assume a sale of 610 units occurred on June 15 for a selling price of $8 and a sale of 530 units on June 27 for $9. On June 30, 270 units remain in inventory. Calculate the cost of ending inventory and cost of goods sold on June 30 under weighted average. (Round the weighted average cost per unit to 3 decimal places, e.g. 5.271 and final answers to 2 decimal places, e.g. 5,275.75.) Weighted Average Ending inventory $ 1,639.90 Cost of goods sold $ 6,924.80

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Your answer is incorrect.
Inventory data for Shamrock Company are reported as follows:
Date
Explanation
Number of
Units
Unit Cost
Total Cost
June
1 Beginning inventory
370
$5
$1,850
CL
Purchase
570
6
3,420
23 Purchase
470
7
Assume a sale of 610 units occurred on June 15 for a selling price of $8 and a sale of 530 units on June 27 for $9. On June 30, 270 units
remain in inventory.
Calculate the cost of ending inventory and cost of goods sold on June 30 under weighted average. (Round the weighted average cost per
unit to 3 decimal places, eg. 5.271 and final answers to 2 decimal places, eg. 5,275.75.)
Weighted Average
Ending inventory
$
1,639.90
Cost of goods sold
$
6,924.80
Transcribed Image Text:Your answer is incorrect. Inventory data for Shamrock Company are reported as follows: Date Explanation Number of Units Unit Cost Total Cost June 1 Beginning inventory 370 $5 $1,850 CL Purchase 570 6 3,420 23 Purchase 470 7 Assume a sale of 610 units occurred on June 15 for a selling price of $8 and a sale of 530 units on June 27 for $9. On June 30, 270 units remain in inventory. Calculate the cost of ending inventory and cost of goods sold on June 30 under weighted average. (Round the weighted average cost per unit to 3 decimal places, eg. 5.271 and final answers to 2 decimal places, eg. 5,275.75.) Weighted Average Ending inventory $ 1,639.90 Cost of goods sold $ 6,924.80
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