greg s bicycle shop has the following transactions related to its top selling mongoo 595902
Aug 29, 2021 | Uncategorized
| Greg’s Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March 2012: |
| Date |
Transactions |
Units |
Cost per Unit |
Total Cost |
| March 1 |
Beginning inventory |
20 |
$200 |
$4,000 |
| March 5 |
Sale ($300 each) |
15 |
|
|
| March 9 |
Purchase |
10 |
220 |
2,200 |
| March 17 |
Sale ($350 each) |
8 |
|
|
| March 22 |
Purchase |
10 |
230 |
2,300 |
| March 27 |
Sale ($375 each) |
12 |
|
|
| March 30 |
Purchase |
8 |
250 |
2,000 |
|
|
|
|
|
|
|
|
|
$10,500 |
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16.value:
10.00 points
You did not receive credit for this question in a previous attempt
| Required: |
| 1. |
Calculate ending inventory and cost of goods sold at March 31, 2012, using the specific identification method. The March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 purchase.(Omit the “$” sign in your response.)
|
|
|
| Ending inventory |
$ |
| Cost of goods sold |
$ |
|
