The following amounts and costs of platters were available for sale by Colorado Pottery during 2019:
Colorado Pottery, which uses a periodic inventory system, has 35 platters on hand at the end of the year.
How much is cost of goods sold in dollars at the end of the year according to the weighted-average cost method?

Question

The following amounts and costs of platters were available for sale by Colorado Pottery during 2019:
 Colorado Pottery, which uses a periodic inventory system, has 35 platters on hand at the end of the year.
How much is cost of goods sold in dollars at the end of the year according to the weighted-average cost method?

Quizplus · Accepted Answer

(10 units x $164) + (15 units x $220) + (30 units x $280) + (25 units x $260) = $19,840
$19,840 / 80 units = $248
45 units sold x $248 = $11,160

The Following Amounts and Costs of Platters Were Available for Sale