Zoola, Inc. provided the following information regarding its inventory for the current year, its second yearof operations. Transaction Units Unit Cost Beginning inventory1/1 3,000 17.00 Purchases, January 23 4,500 16.00 Purchases, February 14 1,200 16.50
Zoola, Inc. provided the following information regarding its inventory for the current year, its second yearof operations.
Transaction Units Unit Cost
Beginning inventory1/1 3,000 17.00
Purchases, January 23 4,500 16.00
Purchases, February 14 1,200 16.50
Purchases, March 17 2,300 17.00
Units Sold-April 13 at 20 9,600
Purchases, May 5 5,600 15.00
Purchases, July 4 3,200 16.00
Unit Sold-October 31 at 19 8,700
Purchases, November 22 1,400 15.00
Instruction :
1.1 Compute Zoola’s ending inventory and cost of goods sold under the following cost-flow assumptions assuming a perpetual inventory system (Average method). (Round your answer for cost per unit to two decimal
places.)
1.2 Using the facts from 1.1, prepare
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
