
Respuesta :
Answer:
First Part
Weighted-average unit cost = $6.112 (3 decimal places)
Second Part
                    Cost of Ending Inventory    Cost of Goods Sold
a. FIFO Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $1,634 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $2,614
b. LIFO Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $1,324 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $2,294
c. Weighted Average         $1,467                   $2,781
Explanation:
First, calculate the number of units sold
Number of units sold = Units available for sale - Units in ending inventory
                   = (116 + 385 + 194) -  240
                   = 455 units
Weighted-average Method, calculates a new unit cost with every purchase of Inventory. Sales are then made at the new calculated unit cost.
Unit Cost = Total Costs ÷ Total Units
Calculate weighted-average unit cost
Unit Cost = ($ 580 + $2,310 + 1,358)/ (116 + 385 + 194)
        = $6.112 (3 decimal places)
a. FIFO
FIFO stands for First In First Out
i. Cost of Ending Inventory
46 units × $6  =  $276
194 units × $7  = $1,358
Total         = $1,634
ii. Cost of Goods Sold
116 units × $5   =  $580
339 units × $ 6 =$2,034
Total          = $2,614
b. LIFO
LIFO stands for Last In First Out
i. Cost of Ending Inventory
116 units × $5  =  $580
124 units × $6  =   $744
Total         = $1,324
ii. Cost of Goods Sold
194 units × $7  =  $1,358
261 units × $ 6 =  $1,566
Total          = $2,294
c. Weighted Average Method
i. Cost of Ending Inventory
Ending Inventory = Units in Ending Inventory × Average Unit Cost
               = 240 units × $6.112
               = $1,467
ii. Cost of Goods Sold
Cost of Goods Sold = Units Sold ×  Average Unit Cost
                 = 455 units × $6.112
                 = $2,781