Question
The Corporation began its fiscal year with an inventory of 125 units valued at $102 per unit . During the year it made the purchases
The Corporation began its fiscal year with an inventory of 125 units valued at $102 per unit. During the year it made the purchases listed in the following table.
Date
Units Purchased
Unit Cost
February 10
500
105.00
June 3
750
108.00
August 23
600
112.00
At the end of the year, 75 units remained in inventory.
Determine:
a) The weighted-average cost of the beginning inventory and all units purchased during the year
b) The value of the ending inventory based on the weighted-average cost calculated in b.
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Accounting Principles Part 3
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
6th Canadian edition Volume 1
1118306805, 978-1118306802
