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A company's inventory records show the following data for the month of July. Date July 1 July 5 Activities Beginning inventory Purchase July 10
A company's inventory records show the following data for the month of July. Date July 1 July 5 Activities Beginning inventory Purchase July 10 July 20 July 25 Sale Purchase Sale Units Acquired at Cost 100 units @ $36 = $3,600 50 units @ $39 = $1,950 225 units @ $41 Units Sold at Retail 75 units @ $50 = $9,225 200 units @ $50 If the company uses the weighted average method and the perpetual inventory system, what would be the cost of its ending inventory? Goods purchased Cost of Goods Sold Inventory Balance Date Number of Cost per units unit Number of units sold Cost per unit Cost of Goods Sold Number of units Cost per unit Inventory Balance July 1 100 at $ 36.00 = $ 3,600.00 50 at $ 39.00 July 5 Average cost July 5 100 at 50 at $ $ 36.00 = $ 3,600.00 39.00 = 1,950.00 150 at $ 37.00 $ 5,550.00 July 10 July 201 75 at $ 50.00 = $ 3,750.00 225 at $ 41.00 75 at 150 at $ $ 50.00 = $ 3,750.00 37.00 = $ 5,550.00 225 at $ 41.00 = 9,225.00 Average cost July 20 375 at $ 39.40 $ 14,775.00 July 25 200 at $ 50.00 = $ 10,000.00 200 at $ 50.00 = $ 10,000.00 Total July 25 $ 10,000.00 $ 10,000.00
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