On December 31, Silver Star Appliance had 106 stereo systems in ending inventory

Question

On December 31, Silver Star Appliance had 106 stereo systems in ending inventory. Based on the information below and using the weighted-average cost method, calculate the following. (Round your answers to the nearest cent.) Number of Units Cost per Unit Total Cost S 284 $ 187 S 300 S 241 S 255 Beginning Inventory S 6,532 $ 5,984 $ 14,700 14,219 $9,435 S 50,870 32 April 18 49 June 9 59 37 200 94 October 24 November 23 Total Available Sold (Units) Ending leventory (Units) 106 1. Average Unit Cost: 2. Cost of Ending Inventory 3. Cost of Goods Sold SD SD Clear Undo Help

Explanation / Answer

1. Average cost per unit = Total cost/Total unit = (50870/200) = $254.35 per unit

2) Cost of ending inventory = (106*254.35) = $26961.10

3) Cost of goods sold = (94*254.35) = $23908.90

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