Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

give answer with detail P Top Light Company uses a perpetual inventory system. The company began 2021 with 1,000 lamps in inventory at a cost

give answer with detail P Top Light Company uses a perpetual inventory system. The company began 2021 with 1,000 lamps in inventory at a cost of $12 per unit. During 2021, Top Light had the following purchases and sales of lamps: February 15 Purchased 2,000 units @ $18 per unit April 24 Sold 2,500 units @ $30 per unit June 6 Purchased 3,500 units @ $23 per unit October 18 Sold 2,000 units @ $33 per unit December 4 Purchased 1,400 units @ $26 per unit All purchases and sales are on account.

1. What is the Weighted Average per unit cost and total cost of ending inventory on Oct 18

2. What is the Weighted Average total cost of ending inventory ending inventory in units and cost of goods sold on December 4

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Accounting

Authors: Frank Wood, Alan Sangster

7th Edition

0273619829, 9780273619826

More Books

Students also viewed these Accounting questions