Question
DEF Company uses the weighted average cost method for inventory valuation. The following inventory transactions occurred during the month: Beginning inventory: 100 units at $10
DEF Company uses the weighted average cost method for inventory valuation. The following inventory transactions occurred during the month:
- Beginning inventory: 100 units at $10 per unit
- Purchase on Jan 10: 200 units at $12 per unit
- Purchase on Jan 20: 150 units at $15 per unit
Calculate the cost of goods sold and ending inventory using the weighted average cost method.
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Accounting Information Systems
Authors: Marshall B. Romney, Paul J. Steinbart
12th edition
132552620, 978-0132552622
