During the year ended December 31, 2021, Blake Company sold
12,000 cases of Product T for $120,000. Facts related to its
beginning inventory and purchases are as follows:
January
1
Beginning inventory
5,000 cases @ $4.00
February
10 Purchase 3,000
cases @ $5.00
April
23 Purchase 8,000
cases @ $4.50
August
5
Purchase 2,000
cases @ $5.00
Please show all supporting computations.
For the year ended December 31, 2021,
compute:
Total
Goods Available for Sale in units:
Total
Goods Available for Sale in $:
The
number of units in ending inventory:
The
average cost of one case of Product T:
The value of the ending inventory using the average cost
method: