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Wattan Company reports beginning inventory of 10 units at $60 each.
Every week for four weeks it purchases an additional 10 units at respective costs of $61, $62, $65 and $70 per unit for weeks 1 through 4. Assume that no sales occur during those four weeks.
1. Calculate the cost of goods available for sale and
2. the units available for sale for this four week period.

Respuesta :

abiolataiwo2015

Answer:

1. $3,180

2. 50 units

Explanation:

1. Calculation for the cost of goods available for sale

Beginning Inventory 10units *$60= $600

Week 1 purchase 10 units*$61=$ 610

Week 2 purchase 10units* $62=$ 620

Week 3 purchase 10 units*$65= 650

Week 4 purchase 10units*$70= $700

Cost of goods available for sale =$3,180

($600+$610+$620+$650+$700)

Therefore the cost of goods available for sale will be $3,180

2. Calculation for the units available for sale for this four week period.

Units available for sale =10 units+10 units+10 units+10 units+10 units

Units available for sale=50 units

Therefore the units available for sale for this four week period will be 50 units

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