Jackson Enterprises markets the CDs for the performing artist Adam Lavine. At th

Question

Jackson Enterprises markets the CDs for the performing artist Adam Lavine. At the beginning of March, Jackson had beginning inventory of 1,500 Lavine CDs with a unit cost of $7. During March, Jackson made the following purchases of Lavine CDs. During March, 12,500 units were sold. Jackson uses a perpetual inventory system. Prepare answers on an Excel spreadsheet using the following templates. Label each answer with the letter in parenthesis. Determine the ending inventory under weighted average.

Explanation / Answer

Opining stock 1500 7 10500 3000 8 24000 5500 9 49500 4000 10 40000 2000 11 22000 Total Cost of goods available for sale 16000 146000 Average Costper unit of goods sold=146000/16000 9.13 Total Cost of goods available for sale 146000 Less Ending Inventory ( 16000-12500)*9.13 31938 Cost of goods Sold 114063

Related Questions

Navigate

• Browse (All)
• Browse J
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.