Question
GH Inc. uses the Weighted Average cost formula in a perpetual inventory system. Fill in the missing amounts in the table below. Find COGS and
GH Inc. uses the Weighted Average cost formula in a perpetual inventory system. Fill in the missing amounts in the table below. Find COGS and Ending Inventory
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| Purchases | COGS | Balance on the floor | ||||||
| Date | Explanation | Units | Unit cost $ | Total $ | Units | Unit cost $ | Total$ | Units | Unit cost$ | Total$ |
| Begin | Beginning Inventory |
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| 100 | 50 | 5000 |
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| Oct.1 | purchase | 50 | 60 | 3000 |
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| Oct.2 | sale |
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| 75 |
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| Oct.4 | purchase | 10 | 55 | 550 |
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Advanced Accounting
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupni
13th edition
1259444953, 978-1259444951
