Date Description Units Unit Cost or Selling Price October 1 Beginning inventory 60 $29.54 October 9 Purchase 120 30.54 October 11 Sale 100 39.
DateDescriptionUnitsUnit Cost orSelling Price October 1Beginning inventory60 $29.54 October 9Purchase120 30.54 October 11Sale100 39.54 October 17Purchase70 31.54 October 22Sale60 44.54 October 25Purchase80 32.54 October 29Sale110 44.54 Instructions:Calculate (i) ending inventory, (ii) cost of goods sold, (iii) gross profit, and (iv) gross profit rate under each of the following methods. (Round weighted-average cost per unit to 3 decimal places, e.g. 2.250. Use the rounded amount for […]
