Calculate ending inventory and cost of goods

Reference no: EM13755851

Greg's Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March 2015. Greg's Bicycle Shop uses a periodic inventory system.

Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31, 2015.

Date	Transactions	Units	Cost per Unit	Total Cost
March 1	Beginning inventory	20	$160	$	3,200
March 5	Sale ($220 each)	15
March 9	Purchase	10	180		1,800
March 17	Sale ($270 each)	8
March 22	Purchase	10	190		1,900
March 27	Sale ($295 each)	12
March 30	Purchase	8	210		1,680

				$	8,580

Reference no: EM13755851

Questions Cloud

Net assets and employees retirement fund : Net Assets and Employees' Retirement Fund. Complete the following activities and submit your answers to your instructor in a Word document formatted to proper APA specifications. Include any relevant supporting computations and explanations.

Comprehensive description of the business process : A Comprehensive description of the business process including: definition of the main objectives of the business process

Demonstrate the results of the computation : Design a Windows based application that should read or extract data from an outside source (preferably from other Microcontroller). Carry on a particular computation on the data. Demonstrate the results of the computation through the application.

Federal judicial decision regarding contract law : Locate information on one Federal Judicial decision regarding contract law (you can include Supreme Court decisions in your choice if you prefer). In a 1-2 page paper, discuss the issues surrounding this decision. Include an overview of the law, a..

Calculate ending inventory and cost of goods : Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31, 2015.

Generic supply and demand curves : If society is producing a combination of goods on its production possibilities frontier - Suppose you can write generic supply and demand curves such that QS= A + BP and QD= D + CP. Equilibrium price is given by

Research in the area of information security awareness : 1-2 page APA style paper summarizing research in the area of Information security awareness

Create a comprehensive plan to utilize social networking : You are an e-marketing and e-commerce consultant. Mary and Joe Johnson, the owners of Book Bunker, have hired you to help them create a comprehensive plan to utilize social networking in their marketing and advertising programs.

Monthly compounding-annualizing a monthly rate : If you bought a $1,000 face value CD that matured in nine months, and which was advertised as paying 9% annual interest, compounded monthly, how much would you receive when you cashed in your CD at maturity?

User Account

All Pages