The units and value of ending inventory as well as the cost of goods sold as per moving average costing method. Given information: Balance of beginning inventory is 8,000 units at the rate of $16 per unit. Value of beginning units is $128,000 Purchase made in the month of February 8 is 4,000 units at the rate of $21. Value of purchases in the month of February 8 is $84,000 Purchase made in the month of June 24 is 1,800 units at the rate of $23. Value of purchases in the month of June 24 is $41,400. Purchases made in the month of December24 is 3,000units at the rate of $26 Value of purchases in the month of December 24 is $78,000 Total number of unit sold is 5,500 units. Total number of unit purchase during the year is 8,800 units.

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Answer 1

Question

Chapter 10, Problem 10.7BE

To determine

The units and value of ending inventory as well as the cost of goods sold as per moving average costing method.

Given information:

Balance of beginning inventory is 8,000 units at the rate of $16 per unit.

Value of beginning units is $128,000

Purchase made in the month of February 8 is 4,000 units at the rate of $21.

Value of purchases in the month of February 8 is $84,000

Purchase made in the month of June 24 is 1,800 units at the rate of $23.

Value of purchases in the month of June 24 is $41,400.

Purchases made in the month of December24 is 3,000units at the rate of $26

Value of purchases in the month of December 24 is $78,000

Total number of unit sold is 5,500 units.

Total number of unit purchase during the year is 8,800 units.

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Answer 2

Question

Chapter 10, Problem 10.7BE

To determine

The units and value of ending inventory as well as the cost of goods sold as per moving average costing method.

Given information:

Balance of beginning inventory is 8,000 units at the rate of $16 per unit.

Value of beginning units is $128,000

Purchase made in the month of February 8 is 4,000 units at the rate of $21.

Value of purchases in the month of February 8 is $84,000

Purchase made in the month of June 24 is 1,800 units at the rate of $23.

Value of purchases in the month of June 24 is $41,400.

Purchases made in the month of December24 is 3,000units at the rate of $26

Value of purchases in the month of December 24 is $78,000

Total number of unit sold is 5,500 units.

Total number of unit purchase during the year is 8,800 units.

Expert Solution & Answer

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Answer 3

Question

Chapter 10, Problem 10.7BE

To determine

The units and value of ending inventory as well as the cost of goods sold as per moving average costing method.

Given information:

Balance of beginning inventory is 8,000 units at the rate of $16 per unit.

Value of beginning units is $128,000

Purchase made in the month of February 8 is 4,000 units at the rate of $21.

Value of purchases in the month of February 8 is $84,000

Purchase made in the month of June 24 is 1,800 units at the rate of $23.

Value of purchases in the month of June 24 is $41,400.

Purchases made in the month of December24 is 3,000units at the rate of $26

Value of purchases in the month of December 24 is $78,000

Total number of unit sold is 5,500 units.

Total number of unit purchase during the year is 8,800 units.

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Answer 4

Question

Chapter 10, Problem 10.7BE

To determine

The units and value of ending inventory as well as the cost of goods sold as per moving average costing method.

Given information:

Balance of beginning inventory is 8,000 units at the rate of $16 per unit.

Value of beginning units is $128,000

Purchase made in the month of February 8 is 4,000 units at the rate of $21.

Value of purchases in the month of February 8 is $84,000

Purchase made in the month of June 24 is 1,800 units at the rate of $23.

Value of purchases in the month of June 24 is $41,400.

Purchases made in the month of December24 is 3,000units at the rate of $26

Value of purchases in the month of December 24 is $78,000

Total number of unit sold is 5,500 units.

Total number of unit purchase during the year is 8,800 units.

Expert Solution & Answer

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Answer 5

Chapter 10, Problem 10.7BE

To determine

The units and value of ending inventory as well as the cost of goods sold as per moving average costing method.

Given information:

Balance of beginning inventory is 8,000 units at the rate of $16 per unit.

Value of beginning units is $128,000

Purchase made in the month of February 8 is 4,000 units at the rate of $21.

Value of purchases in the month of February 8 is $84,000

Purchase made in the month of June 24 is 1,800 units at the rate of $23.

Value of purchases in the month of June 24 is $41,400.

Purchases made in the month of December24 is 3,000units at the rate of $26

Value of purchases in the month of December 24 is $78,000

Total number of unit sold is 5,500 units.

Total number of unit purchase during the year is 8,800 units.

Answer 6

Chapter 10, Problem 10.7BE

To determine

The units and value of ending inventory as well as the cost of goods sold as per moving average costing method.

Given information:

Balance of beginning inventory is 8,000 units at the rate of $16 per unit.

Value of beginning units is $128,000

Purchase made in the month of February 8 is 4,000 units at the rate of $21.

Value of purchases in the month of February 8 is $84,000

Purchase made in the month of June 24 is 1,800 units at the rate of $23.

Value of purchases in the month of June 24 is $41,400.

Purchases made in the month of December24 is 3,000units at the rate of $26

Value of purchases in the month of December 24 is $78,000

Total number of unit sold is 5,500 units.

Total number of unit purchase during the year is 8,800 units.

Answer 7

Chapter 10, Problem 10.7BE

To determine

The units and value of ending inventory as well as the cost of goods sold as per moving average costing method.

Given information:

Balance of beginning inventory is 8,000 units at the rate of $16 per unit.

Value of beginning units is $128,000

Purchase made in the month of February 8 is 4,000 units at the rate of $21.

Value of purchases in the month of February 8 is $84,000

Purchase made in the month of June 24 is 1,800 units at the rate of $23.

Value of purchases in the month of June 24 is $41,400.

Purchases made in the month of December24 is 3,000units at the rate of $26

Value of purchases in the month of December 24 is $78,000

Total number of unit sold is 5,500 units.

Total number of unit purchase during the year is 8,800 units.

Answer 8

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Answer 9

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Answer 10

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Answer 11

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Solution Summary: The author calculates the units and value of ending inventory and the cost of goods sold as per the moving average costing method.

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