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Montana Great Outdoors had the following inventory in fiscal 2012. The company uses the Weighted Average method of accounting for inventory.
Beginning Inventory, August 1, 2011: 140 units @ $19.50
Purchase 300 units @ $19.00
Purchase 50 units @ $20.00
Purchase 120 units @ $20.30
Ending Inventory, July 31, 2012: 130 units
The company's cost of goods sold for fiscal 2012 is:
Montana Great Outdoors had the following inventory in fiscal 2012. The company uses the Weighted Average method of accounting for inventory.
Beginning Inventory, August 1, 2011: 140 units @ $19.50
Purchase 300 units @ $19.00
Purchase 50 units @ $20.00
Purchase 120 units @ $20.30
Ending Inventory, July 31, 2012: 130 units
The company's cost of goods sold for fiscal 2012 is:
$ 9,230
$11,866
$9,336
$2,500
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