Answered step by step
Verified Expert Solution
Question
1 Approved Answer
________________________________________________________________ Perpetual inventory using weighted average Beginning inventory, purchases, and sales for WCS12 are as follows: a. Assuming a perpetual inventory system and using the
________________________________________________________________
Perpetual inventory using weighted average Beginning inventory, purchases, and sales for WCS12 are as follows: 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. $X 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. $x 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. $ X Periodic inventory using FIFO, LIFO, and weighted average cost methods The units of an item available for sale during the year were as follows: There are 15 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar). a. First-in, first-out (FIFO) method b. Last-in, first-out (LIFO) method
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started