Question
A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 270 units. Ending inventory
A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 270 units. Ending inventory at January 31 totals 130 units.
| Units | Unit Cost | |
|---|---|---|
| Beginning inventory on January 1 | 240 | $ 2.20 |
| Purchase on January 9 | 60 | 2.40 |
| Purchase on January 25 | 100 | 2.54 |
Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method.
Note: Round your per unit costs to 2 decimal places.
A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 270 units. Ending inventory at January 31 totals 130 units.
| Units | Unit Cost | |
|---|---|---|
| Beginning inventory on January 1 | 240 | $ 2.20 |
| Purchase on January 9 | 60 | 2.40 |
| Purchase on January 25 | 100 | 2.54 |
Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method.
Note: Round your per unit costs to 2 decimal places.
Weighted Average - Perpetual
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Padhukas Students Handbook On Auditing And Assurance Including Multiple Choice Questions For CA Inter
Authors: CA G. Sekar, CA B Saravana Prasath
18th Edition
9390303087, 978-9390303083
