SUCO uses weighted average (moving average) costing and starts 2009 with 5,000 units of merchandise...
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SUCO uses weighted average (moving average) costing and starts 2009 with 5,000 units of merchandise in beginning inventory at $13 per unit cost. Purchases and sales during 2009 are as follows: 2. Sales Purchases 1,500 @$16 February 14 May 22 September 2 November 15 December 9 2,200 @ $30 1,000 @ $17 1,200 @ $18 3,300 @ $40 You may find it beneficial to make a chart to show your calculations for each transaction. (a) If SUcO uses the perpetual method, how much will ending inventory be on its December 31, 2008 balance sheet? (b) How much will CoGS be on its 2009 income statement? 3. VIBO uses weighted average costing and gives you the following data: 12/31/08 1/4/09 1/4/09 6/23/09 12/24/09 12/27/09 Ending inventory of 400 units Purchase of 500 units@ $19 Freight for purchase Sale of 300 units @ $30 Purchase of 700 units @ $20 Return of 100 units @ $20 $6,800 9,500 300 9,000 14,000 2,000 On December 31, 2009 VIBO has 1,200 units on hand. How much is COGS on its 2009 income statement under the periodic method
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