eBook

Show Me How

Question Content Area

Perpetual inventory using weighted average

Beginning inventory, purchases, and sales for WCS12 are as follows:

Date	Line Item Description	Value
Oct. 1	Inventory	310 units at $12
Oct. 13	Sale	190 units
Oct. 22	Purchase	380 units at $13
Oct. 29	Sale	200 units

a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places. fill in the blank 1 of 1$ per unit

b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places. fill in the blank 1 of 1$

c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places. fill in the blank 1 of 1$