Yoakum Company Reported the Following Information Related to Inventory and Sales

question 133

Essay

Yoakum Company reported the following information related to inventory and sales: $$\begin{array} { | l | r | r | } \hline & \text { Units } & \text { Unit Cost } \\\hline \text { Beginning inventory } & 100 & \$ 7 \\\hline \text { Purchase No. 1 } & 700 & 10 \\\hline \text { Purchase No. 2 } & 200 & 12 \\\hline\end{array}$$ Sold 700 units at $20 each. Calculate the revenue, cost of goods sold, gross margin and inventory balances assuming a) the weighted average inventory cost method b) FIFO cost method

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Definitions:

Healthcare

An organized provision of medical care to individuals or a community, including prevention, diagnosis, and treatment of illnesses, injuries, and other physical and mental impairments.

Global Mediascape

The complex landscape of global media flows, including television, internet, and film, which shapes cultures and identities across borders.

Global Flow

The movement of goods, services, people, technology, and financial capital across borders, connecting distant regions of the world.

Military Hardware

Equipment, weaponry, and technological devices designed for use in warfare or defense operations by armed forces.