The Cost of Merchandise Sold or Cost Of Goods Sold COGS =
Total Costs of Units Available for Sale = $3,000.00
Weighted Average Cost = $133.33.00
COGS = (Total Costs of Units Available for Sale + Weighted Average Cost)
COGS = $3,000.00 + $133.33.00
COGS = $399,990.00
Explanation:
SOLUTION
Actual Cost of All Inventory (ACOI) = (Beginning of Inventory + Purchases)
Beginning of Inventory = $1,000.00
Purchases = $3,000.00
ACOI = $1000.00 + $3,000.00
ACOI = $4,000.00.
Total Units of Inventory = (Beginning of Inventory units + Purchases units)
Beginning of Inventory units = 10 Units
Purchases units = 20 Units
Total Units of Inventory = 10 + 20
Total Units of Inventory = 30 Units.
The Weighted Average Cost
WAC = Actual cost Of Inventory ÷ Total Units of Inventory
Actual cost Of Inventory = $4,000.00
Total Units of Inventory = 30 Units
WAC = $4,000.00 ÷ 30 Units
WAC = $133.33
Ending Inventory = Ending inventory x WAC
Ending Inventory = 12 units x $133.33
Ending Inventory = $1,599.96
The Cost of Merchandise Sold or Cost Of Goods Sold COGS =
Total Costs of Units Available for Sale = $3,000.00
Weighted Average Cost = $133.33.00
COGS = (Total Costs of Units Available for Sale + Weighted Average Cost)
COGS = $3,000.00 + $133.33.00
COGS = $399,990.00
What is an example of merchandise?
Merchandise is the term used for any product that can be sell or buy. Any good for sale is merchandise, some examples include groceries in supermarket, clothes in retail store, electronics on a website or raw materials in a manufacturing warehouse.
What are the 5 types of merchandise?
The top 5 types of merchandising are product, retail, vision, digital, and omnichannel. Though classified into 5 dissimilar categories, they are primarily interrelated. For example, visual merchandising is correlated with product merchandising.
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