Bridgeport Corp. uses a periodic inventory system. Its records show the following for the month of May, in which 77 units were sold.Date Explanation Units Unit Cost Total CostMay 1 Inventory 33 $9 $29715 Purchase 25 10 25024 Purchase 42 11 462  Total 100   $1,009  Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)Weighted-average unit cost $Enter the Weighted-average unit cost in dollars  Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, e.g. 125.)  FIFO LIFO AVERAGE-COSTThe ending inventory at May 31

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Asked Nov 8, 2019
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Bridgeport Corp. uses a periodic inventory system. Its records show the following for the month of May, in which 77 units were sold.

Date
 
Explanation
 
Units
 
Unit Cost
 
Total Cost
May 1
 
Inventory
 
33
 
$9
 
$297
15
 
Purchase
 
25
 
10
 
250
24
 
Purchase
 
42
 
11
 
462
   
Total
 
100
     
$1,009
 
 
Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)

Weighted-average unit cost
 
$Enter the Weighted-average unit cost in dollars 

 

Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, e.g. 125.)

   
FIFO
 
LIFO
 
AVERAGE-COST
The ending inventory at May 31

 

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Determine weighted-avera...

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Total cost Date Units Cost per unit $ 297 $ 250 S 462 $1.009 May 1 (Beg. Inventory) May 15 May 24 Goods available for sale 33 $ 9 $ 10 25 $11 42 100 $ 10.090 Weighted-average cost per unit Cost of goods available for sale / Units available for sale Weighted-average cost per unit $1,009/100 Weighted-average cost per unit = $10.090

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