Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Perpetual inventory using weighted average Beginning inventory, purchases, and sales for WCS 1 2 are as follows: Oct. 1 Inventory 3 1 0 units at

Perpetual inventory using weighted average
Beginning inventory, purchases, and sales for WCS12 are as follows:
Oct. 1 Inventory 310 units at $10
Oct. 13 Sale 160 units
Oct. 22 Purchase 350 units at $11
Oct. 29 Sale 400 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.
$ 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.
$
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.
image text in transcribed

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

Accounting For Investments Fixed Income Securities And Interest Rate Derivatives Volume 2

Authors: R. Venkata Subramani

1st Edition

047082591X, 978-0470825914

More Books

Students also viewed these Accounting questions