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1 2 Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 300 units at $8 13
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Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 300 units at $8 13 Sale 175 units 22 Purchase 375 units at $10 29 Sale 280 units a. Assuming a perpetual inventory system and using the weighted average cost method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places. per unit b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places. $ C. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places. $ Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Method. The units of an item available for sale during the year were as follows: Jan. 1 Inventory 8 units at $45 $360 Aug. 13 Purchase 18 units at $48 864 Nov. 30 Purchase 12 units at $50 600 Available for sale 38 units $1,824 There are 18 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first- in, first-out (FIFO) method; (b) the last-in, first-out (LIFO) method; and (c) the weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar). a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) C. Weighted average costStep by Step Solution
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