Stubbs Company uses the perpetual inventory method. On January 1, Year 1, Stubbs purchased 1,400 units of inventory that cost $12.00 each. On January 10, Year 1, the company purchased an additional 600 units of inventory that cost $7.25 each. If Stubbs uses a weighted average cost flow method and sells 1,600 units of inventory for $24.00 each, the amount of gross margin reported on the income statement will be: (Round your intermediate calculations to two decimal places.)
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Ответ:
Gross Profit $ 23,253
Explanation:
Stubbs Company
Perpetual Inventory Method
Date Purchases Unit Price Total Cost
January 1, 1,400 units $12.00 $16,800
January 10, 1,600 units $7.25 $11,600
Total 3000 28,400
Weighted Average Cost= 28,400/3000= $ 9.467
Sales 1,600 units at$24.00 =$38,400
COGS 1600 units at $ 9.467 = $ 15,147
Gross Profit $ 23,253
The amount of gross margin reported on the income statement will be: $ 23,253
Ответ:
Forward for the first then backward for the second i believe
Explanation:Taking test and seems reasonable answer (PLATO)