Ivanhoe Company had a beginning inventory balance on July 1 of 350 units at a...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Ivanhoe Company had a beginning inventory balance on July 1 of 350 units at a cost of $3.00 each. During the month the following inventory transactions took place: Sales Date Purchases Units Cost per unit 1.540 53.10 Date Units Price per unit July 10 July 2 270 $5,80 13 680 3.40 11 1.000 5.80 27 620 3.60 28 620 6.60 Calculate the cost of goods available for sale and the number of units of ending inventory. Cost of goods available for sale $ Number of units of ending inventory units Ivanhoe Company had a beginning inventory balance on July 1 of 350 units at a cost of $3.00 each. During the month the following inventory transactions took place: Sales Date Purchases Units Cost per unit 1.540 53.10 Date Units Price per unit July 10 July 2 270 $5,80 13 680 3.40 11 1.000 5.80 27 620 3.60 28 620 6.60 Calculate the cost of goods available for sale and the number of units of ending inventory. Cost of goods available for sale $ Number of units of ending inventory units
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
