Accounting for Materials

Using weighted average, compute for:

1. Weighted average unit cost

2. Cost of ending inventory

3. Cost of materials issued

The following data about Maxwell Company is given for the month of August. August 1Inventory 800 units at P10 12 Purchase 1,000 units at P12 20 14 Purchase 500 units at P11.50 25 16 Issue 800 units 28 18 Purchase 600 units at P15 Issue 500 units Purchase 400 units at P14 Issue 800 units