Stewart Company's inventory records for the most recent year contain the following data 囲(Click the icon to view the data.) Stewart Company sold a total of 18,100 units during the year. Read the requirements. Requirement 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. (Round the average cost per unit to the nearest cent.) Using the average-cost method, the cost of goods sold is and the ending inventory is$ Data Table Quantity Unit Cost 10,000 12.00 Purchases during year 10,000$ 16.00 Beginning inventory PrintDone
Stewart Company's inventory records for the most recent year contain the following data 囲(Click the icon to view the data.) Stewart Company sold a total of 18,100 units during the year. Read the requirements. Requirement 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. (Round the average cost per unit to the nearest cent.) Using the average-cost method, the cost of goods sold is and the ending inventory is$ Data Table Quantity Unit Cost 10,000 12.00 Purchases during year 10,000$ 16.00 Beginning inventory PrintDone
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Answer all questions. Ch.6-4
Transcribed Image Text:Stewart Company's inventory records for the most recent year contain the following data
囲(Click the icon to view the data.)
Stewart Company sold a total of 18,100 units during the year.
Read the requirements.
Requirement 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. (Round the average cost per unit to the nearest cent.)
Using the average-cost method, the cost of goods sold is
and the ending inventory is$
Data Table
Quantity Unit Cost
10,000 12.00
Purchases during year 10,000$ 16.00
Beginning inventory
PrintDone
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