Question
The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 1,000 units at $150 Mar. 18 Sale
The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 1,000 units at $150
Mar. 18 Sale 800 units
May 2 Purchase 1,800 units at $155
Aug. 9 Sale 1,500 units
Oct. 20 Purchase 700 units at $160.50
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.
Jan. 1 Inventory 1,000 units at $150
Mar. 18 Sale 800 units
May 2 Purchase 1,800 units at $155
Aug. 9 Sale 1,500 units
Oct. 20 Purchase 700 units at $160.50
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.
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International financial management
Authors: Jeff Madura
9th Edition
978-0324593495, 324568207, 324568193, 032459349X, 9780324568202, 9780324568196, 978-0324593471
