Given the following: Number purchased Cost per unit Total January 1 inventory 39 $ 5 $ 195 April 1 59 8 472 June 1 49 9 441 November 1 54 10 540 201 $ 1,648 a. Calculate the cost of ending inventory using the weighted-average method (ending inventory shows 60 units). (Do not round intermediate calculations. Round your final answer to the nearest cent.) b. Calculate the cost of goods sold using the weighted-average method. (Use your rounded answer from Part a. Round your final answer to the nearest cent.)

Q: es Given the following: January 1 inventory April 1 June 1 November 1 Number purchased 37 57 47 52…

A: Since the method "first in first out" is followed the closing inventory would include those…

Q: The GMA corporation shows the folowing data related to an item of Inventory Inventory, January 1 100…

A: Cost of goods available = (100 x P50) + (300 x P54) + (90 x P60) = P26,600

Q: On the basis of the following data, what is the estimated cost of the inventory on May 31 using the…

A: Ending Inventory: Ending inventory is the value of the stock or product that is still available at…

Q: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,…

A: The perpetual inventory system is one of the methods of inventory management that records real-time…

Q: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,…

A: As per LIFO method Units sold are valued at cost of units which have been purchased recently,…

Q: Calculate the cost of goods sold dollar value for A66 Company for the month, considering the…

A: Under LIFO Inventory company used the latest inventory to sell at the first and beginning inventory…

Q: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,…

A: Cost of goods purchased Cost of goods sold Cost of InventoryRemaining   Units Unit cost…

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the LIFO…

A: "LIFO" stands for last-in, first-out, meaning that the recently purchased inventory items are…

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the…

A: Inventory is one of the important current asset of the business. It can be valued by many methods…

Q: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,…

A: AVERAGE PERPETUAL INVENTORY   Purchase Cost of goods sold Balance Inventory Quantity…

Q: Given the following:     Numberpurchased Costper unit Total January 1 inventory 40 $4 $160…

A:

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the…

A: Ending inventory refers to value of goods readily available for sale and held by company at end of…

Q: ok int Given the following: erences January 1 inventory April 1 June 1 November 1 Cost of ending…

A: Inventory Units Cost per unit Amount Beginning Inventory 36 5 180 Apr 01 Purchases 56 8 448…

Q: (a) Sales Revenue $fill in the blank 1 (b) Cost of Goods Sold fill in the blank 2 (c) Gross Margin

A: A perpetual inventory system is the inventory system where the level of inventory is updated…

Q: Calculate the cost of goods sold dollar value for A67 Company for the month, considering the…

A: Compute the weighted average cost per unit as follows: Cost per unit=Beginning…

Q: Calculate the cost of goods sold dollar value for A67 Company for the month, considering the…

A: Weighted average cost is one the techniques of valuing inventory and preparing the store ledgers. In…

Q: Given the following:   Numberpurchased Costper unit Total January 1 inventory 40 $4 $160…

A: Finished goods inventory: These inventories are completely ready for sale after the completion of…

Q: Using the retail method and the following data, estimate the cost of ending inventory. (Round…

A: Formula: Cost to retail Ratio= Opening Inventory at Cost- Purchase at CostOPening Inventory at…

Q: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,…

A:

Q: Given the following: Number Cost purchased per unit Total January 1 inventory April 1 35 $ 3 $ 105…

A: Under FIFO method i.e First in First Out method, the inventory which is purchased first will be sold…

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the LIFO…

A: LIFO is last in first out method for inventory valuation, which says that inventory purchased at…

Q: Given the following:   Numberpurchased Costper unit Total January 1 inventory 40 $4 $160…

A: Given information Date units per unit cost Amount ($) 1-Jan 40 $4 $160 1-Apr 60 $7 $420…

Q: Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1   Inventory 330 units at…

A: Weighted Average Perpetual Date Goods Purchased Cost of goods sold Ending Inventory   Units Cost…

Q: Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11, considering…

A: Perpetual Inventory System This system provides running balance of Cost of Goods available for Sale…

Q: Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to…

A: Formula: Gross margin = sales - cost of goods sold. Deduction of cost of goods sold from sales value…

Q: Calculate the cost of goods sold dollar value for A66 Company for the month, considering the…

A: Inventory valuation is a process in accounting that businesses use to determine the value of unsold…

Q: # of Units Unit Cost Total Cost Jan 1 Beginning Inventory 09 009$ 066$ $1,300 Jan 12 Purchase $11 06…

A: Inventory valuation is based on the flow of exemption used by the company. There are many methods…

Q: Calculate the cost of goods sold dollar value for A67 Company for the month, considering the…

A: Average cost per unit = Total cost of goods available for sale  / Total no. of units available for…

Q: Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to…

A: Under the weighted-average (AVG) cost allocation method, a weighted-average cost per unit is…

Q: Given the following: Number purchased Cost per unit Total January 1 inventory 39 $…

A:

Q: Given the following:     Number purchased Cost per unit Total January 1 inventory 41 $ 5   $ 205…

A: Number of units sold = Units purchased - Ending inventory units = 209 - 62 = 147

Q: Given the following:   Number purchased Cost per unit Total January 1 inventory   30     $ 5     $…

A: LIFO: LIFO stands for Last-In, First-Out. In this method inventory purchased at last will be sold…

Q: Given the following: Number Cost per unit $ 4 purchased Total January 1 inventory April 1 40 2$ 160…

A: Ending inventory is computed by adding the beginning inventory and purchases and then subtracting…

Q: Spotter Corporation reported the following for June In Its perlodic Inventory records. Date…

A: Date Description Units Unit cost Total cost June 1 Beginning 12 $8 $96 11 Purchase 38 9 342 24…

Q: Given the following: January 1 inventory April 1 June 1 November 1 Number purchased 34 54 44 Cost of…

A: The cost of goods sold refers to the direct costs of making products sold by a company (COGS). This…

Q: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,…

A: The inventory valuation method used to evaluate the closing inventory and cost of goods sold on the…

Q: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,…

A: Inventory valuation of a firm can be done using different methods like FIFO, LIFO, weighted average…

Q: Sales during the year were 1,220 units. Beginning inventory was 380 units at a cost of $6 per unit.…

A: FIFO method uses the inventory which is bought first for the production, but whereas the LIFO method…

Q: Calculate the cost of goods sold dollar value for A65 Company for the month, considering the…

A: The accounting principle of FIFO states that assets bought first are sold of first.

Q: Calculate the cost of goods sold dollar value for A66 Company for the month, considering the…

A: LIFO: LIFO stands for Last-In, First-Out. In this method inventory purchased at last will be sell…

Q: sing the gross profit method with the following cost data, estimate the cost of ending inventory.…

A: Ending inventory is the value of inventory remaining unsold at the end of the period.  The inventory…

Q: Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 350 units at…

A: Solving through weighted average. Date Purchases     Sales     Ending Inventory       Quantity…

Q: The following information is for the Bud Company; the company sells just one product: Units Unit…

A:

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the…

A: Inventory is the current asset posted in the balance sheet of the company.

Q: Calculate the cost of goods sold dollar value for A66 Company for the month, considering the…

A: Last-in, first-out is the method of inventory valuation where the item that is purchased or…

Q: The following information is available for Sigma Company Units Unit Cost 300 $12 $ 3,600 April 1:…

A: FIFO: FIFO stands for First-In, First-Out.  In this method inventory purchased first will be sell…

Q: Given the following: Number Cost purchased Total per unit $ 3 $ 105 January 1 inventory April 1 June…

A: Under FIFO method, it is assumed that first units comes in are the first unit goes out. So the…

Q: Given the following: Number Cost per unit $4 purchased Total $ 160 January 1 inventory April 1 40 60…

A: LIFO: LIFO stands for Last-In, First-Out. As its name suggest, this method assumes that the most…

Q: Spotter Corporation reported the following for June in its periodic inventory records. Date…

A: FIFO is the method to record the sale of goods received at last. LIFO is the method to record the…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.