SB The Xu Corporation uses a periodic ... The following information applies to t
ID: 2545787 • Letter: S
Question
SB The Xu Corporation uses a periodic ... The following information applies to the questions displayed below.] The Xu Corporation uses a periodic Inventory system. The company has a beginning Inventory of 1,850 units at $21 each on January 1, Xu purchases 2,100 units at $20 each In February and 1,000 units at $22 each in March. There were no additional purchases or sales during the remainder of the year. References Section Break SB The Xu Corporation uses a periodic ... value: 1.50 points MC Qu.82 Xu sells ... Xu sells 950 units during the quarter. If Xu uses the weighted average method, what is its cost of goods sold for the quarter? (Do not round intermediate calculations. Round your final answer to the nearest dollar amount.) O $20,900 O $19,000 $19,950 O $19,739Explanation / Answer
Answer to first question
Calculation of Weighted Average Cost per unit = Total Cost / Total Units Available
Total Cost= (1850@21 ) + (2100@20 ) + ( 1000@22 )
= $ 102850
Total Units Available = 1850 + 2100 + 1000 Units
= 4950 Units
Cost per unit = $ 102850 / 4950 Units
= $ 20.77 Unit
Therefore, Cost of goods sold = 950 Units Sold x $ 20.77
= $ 19739
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