ss Telamark Company uses the moving weighted average method for inventory costing.Required:The following incomplete inventory sheet regarding Product W506 is available for the month of March 2023. Complete the inventorysheet. (Use the value of the ending inventory as your base number and adjust the COGS S amount to the required amount tomake the Total Goods Available for Sale to the total of the Value of the ending inventory and the COGS total. Negative valueshould be indicated with minus sign. Round your Intermediate and final answers to 2 decimal places.)Date UnitsMar. 123471728TotalsPurchases/Transportation-In/(Purchase Returns/Discounts)40Cost/UnitBrought Forward35 $96.0097.00Goods Available for SaleTotal $Cost of Goods Sold/(Returns toInventory)Units Cost/Unit22(2)6543Goods SoldTotal $Units60 $Balance in InventoryAvgCost/UnitTotal $94.00 $ 5,640.00Ending Inventory Note: March 4 reflects a return made by a customer of incorrect items shipped on March 3; these items were returned toinventory.Analysis Component:The gross profit realized on the sale of Product W506 during February 2023 was 36.16%. The selling price was $148 during bothFebruary and March. Calculate the gross profit ratio for Product W506 for March 2023 and determine whether the change isfavourable or unfavourable from February. (Round your intermediate calculations and final answer to 2 decimal places.)Gross profit ratio%

Name: ss Telamark Company uses the moving weighted average method for invent
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Description: ss Telamark Company uses the moving weighted average method for inventory costing.Required:The following incomplete inventory sheet regarding Product W506 is available for the month of March 2023. Complete the inventorysheet. (Use the value of the en

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Telamark Company uses the moving weighted average method for inventory costing Required: The following incomplete inventory sheet regarding Product W506 is available for the month of March 2023. Complete the invento sheet. (Use the value of the ending inventory as your base number and adjust the COGS $ amount to the required amount to make the Total Goods Available for Sale to the total of the Value of the ending inventory and the COGS total. Negative value should be indicated with minus sign. Round your Intermediate and final answers to 2 decimal places.) Date Units Mar. 1 2347 17 28 Totals Purchases/Transportation-In/ (Purchase Returns/Discounts) 40 Cost/Unit Brought Forward 35 $ 96.00 97.00 Goods Available for Sale Total S Cost of Goods Sold/(Returns to Inventory) Units Cost/Unit 22 (2) 65 43 Goods Sold Total $ Units 60 $ Balance in Inventory Avg Cost/Unit 94.00 $ Ending Inventory Total $ 5,640.00

Telamark Company uses the moving weighted average method for inventory costing Required: The following incomplete inventory sheet regarding Product W506 is available for the month of March 2023. Complete the invento sheet. (Use the value of the ending inventory as your base number and adjust the COGS $ amount to the required amount to make the Total Goods Available for Sale to the total of the Value of the ending inventory and the COGS total. Negative value should be indicated with minus sign. Round your Intermediate and final answers to 2 decimal places.) Date Units Mar. 1 2347 17 28 Totals Purchases/Transportation-In/ (Purchase Returns/Discounts) 40 Cost/Unit Brought Forward 35 $ 96.00 97.00 Goods Available for Sale Total S Cost of Goods Sold/(Returns to Inventory) Units Cost/Unit 22 (2) 65 43 Goods Sold Total $ Units 60 $ Balance in Inventory Avg Cost/Unit 94.00 $ Ending Inventory Total $ 5,640.00

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 9EA: Calculate the cost of goods sold dollar value for A66 Company for the month, considering the...

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