TB EX Qu. 6-211 (Algo) During 2024, a company sells... During 2024, a company sells 20 units of inventory. The company has the following inventory purchase transactions for 2024: Number of Units 15 10 25 Date January 1 September 8 Transaction Beginning inventory Purchase Ending inventory Cost of goods sold Total Cost $750 1,160 $1,910 Unit Cost $50 116 Calculate ending inventory and cost of goods sold for 2024 assuming the company uses the weighted-average cost method. (Round weighted-average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.)
TB EX Qu. 6-211 (Algo) During 2024, a company sells... During 2024, a company sells 20 units of inventory. The company has the following inventory purchase transactions for 2024: Number of Units 15 10 25 Date January 1 September 8 Transaction Beginning inventory Purchase Ending inventory Cost of goods sold Total Cost $750 1,160 $1,910 Unit Cost $50 116 Calculate ending inventory and cost of goods sold for 2024 assuming the company uses the weighted-average cost method. (Round weighted-average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.)
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 5.24MCE
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![TB EX Qu. 6-211 (Algo) During 2024, a company sells...
During 2024, a company sells 20 units of inventory. The company has the following inventory purchase transactions for 2024:
Number of
Units
15
10
25
Date
January 1
September 8
Transaction
Beginning inventory
Purchase
Ending inventory
Cost of goods sold
Total
Cost
$750
1,160
$1,910
Unit Cost
$50
116
Calculate ending inventory and cost of goods sold for 2024 assuming the company uses the weighted-average cost method. (Round
weighted-average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F27c9ffc8-caf5-4a01-9236-94db3faf410c%2F60f1241c-6af0-4491-970f-1ba8f23552d4%2F3vxwy2_processed.png&w=3840&q=75)
Transcribed Image Text:TB EX Qu. 6-211 (Algo) During 2024, a company sells...
During 2024, a company sells 20 units of inventory. The company has the following inventory purchase transactions for 2024:
Number of
Units
15
10
25
Date
January 1
September 8
Transaction
Beginning inventory
Purchase
Ending inventory
Cost of goods sold
Total
Cost
$750
1,160
$1,910
Unit Cost
$50
116
Calculate ending inventory and cost of goods sold for 2024 assuming the company uses the weighted-average cost method. (Round
weighted-average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.)
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