The periodic inventory records of Witte Veterinary Supply indicate the following for the month of

April:

Apr

1 Beginning merchandise inventory 15 units @ $32 each
7 Purchase 7 units @ $32 each
18 Purchase 12 units @ $32 each
26 Purchase 10 units @ $32 each

As of April 30, Witte counts 8 units of merchandise inventory on hand.
Compute ending merchandise inventory and cost of goods sold for Witte using the weighted-average inventory method. (Round the per unit cost to two decimal places.)
What will be an ideal response

Weighted-Average cost per unit: Cost of goods available for sale / Goods available for sale
$1,562 / 44 units = $35.50

Ending inventory: 8 units x $35.50 = $284

Cost of goods available for sale:

Date
Quantity Unit
Cost Total
Cost
Apr. 1 15 units $ 32 $ 480
7 7 units $ 34 $ 238
18 12 units $ 37 $ 444
26 10 units $ 40 $ 400
Totals 44 units $ 1,562

Cost of goods sold:
Cost of Goods Available for Sale $ 1,562
Less: Ending Merchandise Inventory 284
Cost of Goods Sold $ 1,278

Business

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