Question
The following units of a particular item were available for sale during the calendar year. Jan 1 Inventory 5,000 units at $22.00 Apr 18 Sale
The following units of a particular item were available for sale during the calendar year.
Jan 1 Inventory 5,000 units at $22.00
Apr 18 Sale 3,000 units
June 29 Purchase 8,000 units at $25.00
Oct 10 Sale 3,000 units
Nov 27 Purchase 2,000 units at $28.00
The firm uses the weighted average cost method with a perpetual inventory system. a. Determine the cost of the merchandise sold for each sale b. Determine the inventory balance after each sale
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
3rd edition
978-0077639730
