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

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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