Assuming Average cost flow method is used, how much is the ending inventroy and cost of sales, respectively?A. 130,300 and 101,000B. 101,000 and 130,000C. 105,000 and 126,300D. 126,300 and 105,000 ABC Co. using perpetual inventory system, has the following informationfor the month of JanDateTransactionUnitsUnit costJan 1Beginning20,000412Purchase12,0004.216Purchase20,0004.420Sales25,00025Purchase3,0004.3

Using average method, cost per unit is calculated as total cost of goods divided by number of units.

Answered: ABC Co. using perpetual inventory…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter11: Work Sheet And Adjusting Entries

Section: Chapter Questions

Problem 3E: Basga Company uses the periodic inventory system. Beginning inventory amounted to 241,072. A...

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Assuming Average cost flow method is used, how much is the ending inventroy and cost of sales, respectively? A. 130,300 and 101,000 B. 101,000 and 130,000 C. 105,000 and 126,300 D. 126,300 and 105,000

ABC Co. using perpetual inventory system, has the following information
for the month of Jan
Date
Transaction
Units
Unit cost
Jan 1
Beginning
20,000
4
12
Purchase
12,000
4.2
16
Purchase
20,000
4.4
20
Sales
25,000
25
Purchase
3,000
4.3

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