Weighted average cost flow method under perpetual inventory system OBJ. 3 The following units of a particular
Question:
Weighted average cost flow method under perpetual inventory system OBJ. 3 The following units of a particular item were available for sale during the calendar year:
Jan. 1 Inventory 10,000 units at $75.00 Mar. 18 Sale 8,000 units May 2 Purchase 18,000 units at $77.50 Aug. 9 Sale 15,000 units Oct. 20 Purchase 7,000 units at $80.25 The firm uses the weighted average cost method with a perpetual inventory system.
Determine the cost of merchandise sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 6.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Financial And Managerial Accounting
ISBN: 9781305267831,9781305267848
13th Edition
Authors: Carl S. Warren , James M. Reeve , Jonathan Duchac
Question Posted: