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The lvanhoe Store had a beginning irwentory on January 1 of 310 full-size strollers at...

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Question

Accounting

The lvanhoe Store had a beginning irwentory on January 1 of 310 full-size strollers at a cost of $210 per unit. During the year, the
following purchases were made:
At the end of the year, there were 35 units on hand. The lvanhoe Store uses a periodic inventory system.
(a)
Your answer is correct.
Determine the cost of goods awailable for sale
Cost of goods awailable for sale
eTextbook and Media
Solution
(b)
Your answer is correct.
During the year, The lvanhoe Store sold the strollers for $310 per unit.
Calculate the number of units sold during the year and total sales revenue.
Number of units sold
Total sales revenue
eTextbook and Media
Solution
(c)
Determine the cost of the ending imventory and the cost of goods sold using [1] FIFO and [2] weighted average. (Round the
weighted average cost per unit to 2 decimal ploces, e.g.15.25 and final answers to 0 decimal places, e.8.5,275.]
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