Maurice Tutor

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Category > Accounting Posted 25 Sep 2017 My Price 4.00

Greg’s Bicycle Shop

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
       





16.value:
10.00 points

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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 $
 

Answers

Maurice Tutor
(5)
Status NEW Posted 25 Sep 2017 08:09 PM My Price 4.00

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