The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020. Beginning Feb. 10 640 units e s75/unit 35e units e $72/unit 230 units e sa5/unit Aug. 21 Stilton Company has two credit sales during the perlod. The units have a selling price of $135.00 per unit. Sales Mar. 15 Sept. 10 430 units 335 units Stilton Company uses a periodic inventory costing system. Requlred: 1. Calculate the dollar value of cost of goods sold and ending Inventory using: (Round the "Welghted-average cost" to 2 decimal places. Round final answers to 2 decimal places.) Ending Inventory Cost of Goods Sold a. FIFO b. Moving weighted average
The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020. Beginning Feb. 10 640 units e s75/unit 35e units e $72/unit 230 units e sa5/unit Aug. 21 Stilton Company has two credit sales during the perlod. The units have a selling price of $135.00 per unit. Sales Mar. 15 Sept. 10 430 units 335 units Stilton Company uses a periodic inventory costing system. Requlred: 1. Calculate the dollar value of cost of goods sold and ending Inventory using: (Round the "Welghted-average cost" to 2 decimal places. Round final answers to 2 decimal places.) Ending Inventory Cost of Goods Sold a. FIFO b. Moving weighted average
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 5.11E: Inventory Costing Methods VanderMeer Inc. reported the following information for the month of...
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