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Calculate cogs using weighted average method

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Reference no: EM132659107

LIFO and Weighted average cost method. A Co. is a restaurant-cum-caterer and has to stock up on its purchases of bottled Coke on a regular basis. The following information relates to transactions that have affected its stock of Coke during the month of December 20X9:

Dec-01 Beginning Inventory 1,400 @ $0.4 each

Dec-07 Purchased in cash 400 @ $0.45 each

Dec-15 Sold (1,255) units

Dec-20 Purchased in cash 1,100 @ $0.48 each

Dec-25 Sold (677) units

Question (i) Calculate COGS using Weighted Average Method

Question (ii) Calculate COGS using Last-In, First-Out (LIFO) Method

Where there is rounding involved in the computation of weighted average cost, round your answer to 3 decimal places.

Reference no: EM132659107

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