Question
A company had inventory on November 1 of 5 units at a cost of $20 each. On November 2, they purchased 10 units at $22
A company had inventory on November 1 of 5 units at a cost of $20 each. On November 2, they purchased 10 units at $22 each. On November 6 they purchased 6 units at $25 each. On November 5, 8 units were sold for $55 each. Using the Weighted Average perpetual inventory method, what was the value of the inventory on November 30?
Answer
A company had inventory on November 1 of 5 units at a cost of $20 each. On November 2, they purchased 10 units at $22 each. On November 6 they purchased 6 units at $25 each. On November 5, 8 units were sold for $55 each. Using the Weighted Average perpetual inventory method, what was the value of the inventory on November 30?
| 1. | $304.00 | |
| 2. | $404.00 | |
| 3. | $299.33 | |
| 4. | $280.00 | |
| 5. | $276.00 |
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Managerial Accounting College Of Dupage Edition
Authors: Karen Wilken Braun, Wendy M. Tietz
3rd Edition
1269222430, 978-1269222433
