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How to use the moving weighted average method? 4 Case Defence sells smartphone cases and uses the perpetual inventory system. The following is information on
How to use the moving weighted average method?
4 Case Defence sells smartphone cases and uses the perpetual inventory system. The following is information on the purchases and sales of "Defender Box" cases. On October 1, Case Defence had 37 units with a unit cost of $31. Sales 15 points Purchases Units Unit Cost 27 32 Units Unit Price 32 $ 67 37 34 Date Oct. Oct. Oct. Oct. Oct. Oct. Oct. 3 6 12 19 23 30 31 37 $ 67 47 36 42 $ 67 32 37 Required: 1. Calculate the dollar value of cost of goods sold and ending inventory for the month of October using the following methods. (Do not round intermediate calculations. Round weighted average all unit costs to two decimal places and round all other numbers to the nearest dollar.) X Answer is complete but not entirely correct. Ending Cost of Goods Inventory Sold 2,516 $ 3,629 a. FIFO $ b Moving weighted average $ 2,281 X $ 3,864 XStep by Step Solution
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