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    Stellamariefinc's Avatar
    Stellamariefinc Posts: 1, Reputation: 1
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    #1

    Nov 18, 2012, 07:20 AM
    the cost assigned to ending inventory and to cost of goods sold using weighted averag
    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's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    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
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