The following information relates to Glassworks Ltd.s inventory transactions during the month of July. Please...
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The following information relates to Glassworks Ltd.s inventory transactions during the month of July.
Please help calculate the weighted-average sections!
The following information relates to Glassworks Ltd's inventory transactions during the month of July. Units Cost/Unit Amount July 1 Beginning inventory 4,200 $12.00 $50,400 4 Purchase 5,800 $12.50 72,500 8 Sale 6,600 14 Sale 1,500 22 Purchase 5,260 $13.10 68,906 28 Sale 2,960 All of the units sold were priced at $20 per unit. (a) Your answer is partially correct. Glassworks Ltd. uses the perpetual inventory system. Calculate Glassworks' cost of goods sold, gross margin, and ending inventory for the month of July using: i. FIFO ii. weighted average (Round calculations for cost per unit to 4 decimal places, e.g. 10.5219 and final answers to O decimal places, e.g. 61,052.) Cost of Goods Sold Gross Margin Ending Inventory $ 136,786 $ 84,414 $ 55,020 i. FIFO Weighted- average $ 139,015 $ ji. 82,185 $ 52,791
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Please help calculate the weighted-average sections!