Solution-Calculate WGLs cost of goods sold for January

Calculate WGLs cost of goods sold for January

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Reference no: EM132824808

Question - West Group Ltd. (WGL) provided the following inventory information for January 2020:

Number of units Price paid per unit

Purchase January 1 500 $50

Purchase January 15 1,000 $60

Purchase January 25 2,000 $70

WGL had NO units on hand at the beginning of January 2020. On January 31, 2020, WGL sold 1,500 units of inventory for $100 each to customers.

Required -

a) Calculate WGL's cost of goods sold for January 2020 using the weighted average method of valuing inventory.

b) Calculate WGL's inventory balance at January 2020 using the first-in, first-out method of valuing inventory.

Reference no: EM132824808

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Calculate WGLs cost of goods sold for January

Reference no: EM132824808

Reference no: EM132824808

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