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View Full Version : The cost assigned to ending inventory and to cost of goods sold using weighted averag


Stellamariefinc
Nov 18, 2012, 07:20 AM
3/1 beginning inventory 210 units @ 8.20 = 1722
3/10 120 units sold @16.20
3/20 280 units purchased @7.20 = 2106
3/25 205 units sold @ 16.20
3/30 150 units purchased @ 6.20

The following is what I have thus far. I am stuck at 3/25 units sold; can someone help please?

cost of gods sold Inventory balance
3/1 1722
3/10 984 738
3/20 2754
3/25?
3/30 ?
Total ?

paraclete
Nov 18, 2012, 08:27 PM
Your answer depends upon which inventory system you are using
let us assume LIFOYour inventory consists of
210 * 8.2 = 1722
-120*8.2 = 738
280 * 7.2 =2016 = 2754

that is 90 * 8.2 and 280 * 7.2
-90 * 8.2 (738)and -115 * 7.2 (828)
165* 7.2 = 1188