Can someone please explain how to do these questions? The answers are E, D, and

Question

Can someone please explain how to do these questions? The answers are E, D, and C

The Powder Corporation sells an Xpert snowboard that is popular with snowboard enthusiasts The company uses a perpetual inventory system, and recorded the following inventory transactions during the last two months of 2016 Purchases Sales Units 112 76 Units Unit Cost $72 71 Selling Price/Unit Nov. Beginning invento 13 Purchase 29 Sale 121 $99 Dec. 3 Purchase 56 69 16 Sale 67 98 38. Using the average cost formula, the cost of goods sold for November 2016 is (a) S9,325.69 (b) $7,803.22 (c) $9,036.58 (d) $7,884.65 (e) None of the above 39. Using the average cost formula, the cost of goods sold for December 2016 is (a) S3,365.68 (b) $4,863.86 (c) S3,086.55 (d) $4,717.73 (e) None of the above 40. Using the average cost formula, the ending inventory at December 31,2016 is (a) S3,766.60 (b) S3,963.41 (c) S3,943.18 (d) S3,767.87 (e) None of the above

Explanation / Answer

Answer:-38)-The cost of goods sold for November 2016 is none of the above (Option e).

39)-The cost of goods sold for December 2016 is $4717.73 (Option d).

40)-The ending inventory at December 2016 is $3943.18.

Explanation:-

Weighted Average- Perpetual Goods purchased Cost of goods sold Inventory balance Date # of units Cost per unit # of units sold Cost per unit Cost of goods sold # of units Cost per unit Inventory balance Nov-01 112 72 8064 Nov-13 76 71 112 72 8064 76 71 5396 Average cost 188 71.60 13460 Nov-29 121 71.6 8663.6 67 71.60 4796.93 Dec-03 56 69 56 69 3864 Average cost 123 70.4 8660.93 Dec-16 67 70.42 4718.14 56 70.4 3942.4

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