TB EX Qu. 6-211 (Algo) During 2024, a company sells... During 2024, a company sells 20 units of inventory. The company has the following inventory purchase transactions for 2024: Number of Units 15 10 25 Date January 1 September 8 Transaction Beginning inventory Purchase Ending inventory Cost of goods sold Total Cost $750 1,160 $1,910 Unit Cost $50 116 Calculate ending inventory and cost of goods sold for 2024 assuming the company uses the weighted-average cost method. (Round weighted-average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.)
TB EX Qu. 6-211 (Algo) During 2024, a company sells... During 2024, a company sells 20 units of inventory. The company has the following inventory purchase transactions for 2024: Number of Units 15 10 25 Date January 1 September 8 Transaction Beginning inventory Purchase Ending inventory Cost of goods sold Total Cost $750 1,160 $1,910 Unit Cost $50 116 Calculate ending inventory and cost of goods sold for 2024 assuming the company uses the weighted-average cost method. (Round weighted-average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.)
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter5: Inventories And Cost Of Goods Sold
Section: Chapter Questions
Problem 5.24MCE
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