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metry records for Duro Incorporated the following: ber Date transaction Apr
metry records for Duro Incorporated the following: ber Date transaction Apr. 1 Beginning inventory Apr.2 Purchase cost 12.14 Durbes 60 fordummorth Ending invertory ng med average cost would be found weighted average cost to decimal places and final anwer to the nearest dramount O O o
Expert Solution
Calculation of Cost of goods available for sale
| A | B | A x B | ||
| Date | Transaction | Number of Units | Unit Cost | Total Cost |
| Apr-01 | Beginning inventory | 480 | $2.34 | $1,123.20 |
| Apr-28 | Purchase | 350 | $2.68 | $938.00 |
| 830 | $2,061.20 |
Cost of goods available for sale = $2,061.20
Number of units available for sale = 830
Number of units sold = 610
Weighted average cost per unit = Cost of goods available for sale/ Number of units available for sale
= 2,061.20/830
= $2.4834
Ending inventory units = Number of units available for sale- Number of units sold
= 830-610
= 220
Cost of ending inventory = Ending inventory units x Weighted average cost per unit
= 220 x 2.4834
= $546
First option is correct.
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