Given the Following 24 Units Are Not Sold

question 77

Short Answer

Given the following:
$$\begin{array} { | l | l | l | l | l | } \hline & & \text { Units } & \text { Unit Cost } & \text { Dollar Cost } \\\hline \text { Beginning Inventory } & \text { Jan 1 } & 20 & \$ 8.00 & \text { A } \\\hline & \text { May 10 } & 15 & \$ 11.00 & \text { B } \\\hline & \text { June 30 } & 17 & \$ 20.00 & \text { C } \\\hline & \text { Dec. 10 } & 12 & \$ 21.00 & \text { D } \\\hline\end{array}$$ 24 units are not sold.
Calculate each of the following:
$$\begin{array} { | l | l | l | l | } \hline & \text { LIFO } & \text { FIFO } & \text { Weighted-Average } \\\hline \text { Cost of Ending Inventory } & \text { A } & \text { C } & \text { E } \\\hline \text { Cost of Goods Sold } & \text { B } & \text { D } & \text { F } \\\hline\end{array}$$

---

Definitions:

Industrial Lathe Sales

Revenue generated from selling industrial lathes, which are machines used to shape metal, wood, or other materials by rotating the workpiece against a cutting tool.

Seasonal Factor

A variable or coefficient that adjusts data to account for predictable seasonal variations in statistics or business metrics.

Exponential Smoothing

A time series forecasting method for univariate data that averages the data in a way that gives less weight to older observations.