Determine the cost of the ending inventory and the cost

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Reference no: EM133506294

Question: The Ivanhoe Store had a beginning inventory on January 1 of 280 full-size strollers at a cost of $200 per unit. During the year, the following purchases were made: Mar. 15 Julv 20 Sept. 4 Dec. 2 Units 82 58 74 10 Unit Cost $201 200 198 193 At the end of the year, there were 34 units on hand. The Ivanhoe Store uses a periodic inventory system. During the year, The Ivanhoe Store sold the strollers for $280 per unit. Calculate the number of units sold during the year and total sales revenue. (C) Determine the cost of the ending inventory and the cost of goods sold using (1) FIFO and (2) weighted average.

Reference no: EM133506294

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