Ending Inventory Assignment | Top Universities
January 29th, 2020
Flora's Gifts reported the following current-month data for its only product. The company uses a periodic inventory system, and its ending inventory consists of 86 units—63 units from the January 6 purchase and 23 units from the January 25 purchase.
| Jan. | 1 | Beginning inventory | 200 | units | @ $4.30 | = | $ | 860.00 |
| Jan. | 6 | Purchase | 373 | units | @ $4.10 | = | 1,529.30 | |
| Jan. | 17 | Purchase | 605 | units | @ $3.60 | = | 2,178.00 | |
| Jan. | 25 | Purchase | 35 | units | @ $3.30 | = | 115.50 | |
| Totals | 1,213 | units | $ | 4,682.80 | ||||
Determine the cost assigned to ending inventory and to cost of goods sold for the following. (Do not round intermediate calculations and round your answers to the nearest whole dollar.) Get Accounting homework help today
