Answer:
Cost of goods sold Ending Inventory
April 19 2,500 at $40 = $100,000 1,500 at $40 = $60,000
Sept 2 5,000 at $49.67 248,350 1,000 at $49.67 = 49,670
Explanation:
Data and Calculations:
Date Details Units Cost price Total cost Inventory
Jan. 1 Inventory 4,000 units at $40 $160,000
Apr. 19 Sale 2,500 units $40 $100,000 60,000
June 30 Purchase 4,500 units at $44 298,000
Sept. 2 Sale 5,000 units $50 248,350 49,670
Nov. 15 Purchase 2,000 units at $46
b) Cost of goods sold c) Ending Inventory
April 19 2,500 at $40 = $100,000 1,500 at $40 = $60,000
Sept 2 5,000 at $49.67 248,350 1,000 at $49.67 = 49,670