Accounting Problems

10/10/19, 10'12 PMBrief Exercise 8-4 (Part Level Submission)

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Attempts: 2 of 3 used

Attempts: 2 of 3 used

Print by: Crismaldy Ventura ACC304011VA016-1198-001: Intermediate Accounting II / HOMEWORK - CHAPTER 08 - ACC304

*Brief Exercise 8-4 (Part Level Submission) Concord Company uses a periodic inventory system. For April, when the company sold 570 units, the following information is available.

Units Unit Cost Total Cost

April 1 inventory 250 $28 $ 7,000

April 15 purchase 350 34 11,900

April 23 purchase 400 36 14,400

1,000 $33,300

*(a)

Your answer is correct. Calculate weighted average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.)

Weighted average cost per unit $

*(b)

Your answer is incorrect. Try again. Compute the April 30 inventory and the April cost of goods sold using the average-cost method. (Round answers to 0 decimal places, e.g. 2,760.)

Ending inventory $

Cost of goods sold $

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