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i need the cgs and inventories for those 2 empty ones just not quite sure how to use weighted average. Required information [The following information
i need the cgs and inventories for those 2 empty ones just not quite sure how to use weighted average.
Required information [The following information applies to the questions displayed belowj Stolte Trimble Corporation (STC) uses a perpetual inventory system. At the beginning of May, STC had 40 units of inventory, of which 20 units were purchased in March for $62 per unit and 20 units were purchased in April for $68 per unit. STC uses its perpetual inventory system to account for the following transactions May 2 STC shipped 35 units of inventory to customers for $152 per unit, on credit terms n/60, FOB shipping point May 4 STC purchased and received 30 units of inventory for $72 per unit, on credit terms n/45 May 8 STC shipped 30 units of inventory to customers for $152 per unit, on credit terms n/60, FOB shipping point Assume Stolte Trimble Corporation (STC) uses weighted average cost in its perpetual inventory system. Prepare the journal entry for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet Date General Journal Debit Credit May 02Accounts Receivable 5,320 Sales Revenue 5,320 May 02Cost of Goods Sold Inventories May 04Inventories 2,160 Accounts Payable 2,160 4 May 08 4,560 Accounts Receivable Sales Revenue 4,560 May 08Cost of Goods Sold InventoriesStep by Step Solution
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