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During January, a company that uses a perpetual inventory system had beginning inventory, purchases, and sales as follows: Units Cost per unit. Begin Inventory 100
During January, a company that uses a perpetual inventory system had beginning inventory, purchases, and sales as follows:
Units Cost per unit.
Begin Inventory 100 $12
Jan 5 Sale 50
10 Purchase 70 $16
15 Sale 25
25 Sale 35
REQUIRED: Prepare a schedule to show the cost of goods sold and ending inventory using the moving weighted average method of costing rounding calculations to two decimals.
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