Question
Please help with filling in the three blanks and, if possible, an explanation of how to figure it out. Thanks Perpetual Inventory Using Weighted Average
Please help with filling in the three blanks and, if possible, an explanation of how to figure it out. Thanks
Perpetual Inventory Using Weighted Average
Beginning inventory, purchases, and sales for WCS12 are as follows:
Oct. 1 Inventory 310 units at $12
13 Sale 170 units
22 Purchase 360 units at $14
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. $_______ _ 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. $___________
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