Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 320 units at $10 13 Sale

image text in transcribed

Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 320 units at $10 13 Sale 180 units 22 Purchase 360 units at $12 29 Sale 300 units 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. 11.05 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. 3,315 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. 3,315 X

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

Intermediate Accounting

Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I

Volume 1, 6th Edition

1259103250, 978-1259103254, 978-0071339476

More Books

Students also viewed these Accounting questions

Question

the student find other ways to meet his needs?

Answered: 1 week ago

Question

0 ) 4-2y-4+3 y 3 4 5 6 7 8 9 10 11 12 13 14 15

Answered: 1 week ago

Question

Explain the pages in white the expert taxes

Answered: 1 week ago

Question

What is a detriment of using voting ensemble models?

Answered: 1 week ago