The Baby Store had a beginning inventory on January 1 of 310 full-size strollers
ID: 2527310 • Letter: T
Question
The Baby Store had a beginning inventory on January 1 of 310 full-size strollers at a cost of $210 per unit. During the year, the following purchases were made:
Units
Unit Cost
Mar. 15
81
$211
July 20
62
210
Sept. 4
24
208
Dec. 2
10
203
At the end of the year, there were 34 units on hand. The Baby Store uses a periodic inventory system.
Costs of Goods available for sale: 102233
During the year, The Baby Store sold the strollers for $280 per unit. Calculate the number of units sold during the year and total sales revenue.
Units
Unit Cost
Mar. 15
81
$211
July 20
62
210
Sept. 4
24
208
Dec. 2
10
203
Explanation / Answer
Units Unit cost Total Beg. Inv. 310 210 65100 Mar. 15 81 211 17091 20-Jul 62 210 13020 Sept. 4 24 208 4992 Dec. 2 10 203 2030 Total 487 102233 Cost of goods available for sale = $102233 Number of units sold during the year = 487-34= 453 Total sales revenue = 453*280= $126840
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