Question
Question Content Area Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular item were available for sale during the
Question Content Area
Weighted Average Cost Flow Method Under Perpetual Inventory System
The following units of a particular item were available for sale during the calendar year:
| Jan. 1 | Inventory | 4,000 units at $20 |
| Apr. 19 | Sale | 2,500 units |
| June 30 | Purchase | 6,000 units at $24 |
| Sept. 2 | Sale | 4,500 units |
| Nov. 15 | Purchase | 1,000 units at $25 |
The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of merchandise sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5. Round unit cost to two decimal places, if necessary.
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Information For Decision Making Readings In Cost And Managerial Accounting
Authors: Alfred Rappaport
3rd Edition
0134643542, 978-0134643540
