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Trout company uses a perpetual system and made purchases and sales of a product as follows: Date Purchase Number of units Cost per unit Total
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Trout company uses a perpetual system and made purchases and sales of a product as follows:
Trout company uses a perpetual system and made purchases and sales of a product as follows:
| Date | Purchase | Number of units | Cost per unit | Total Cost |
| Jan 1 | beginning | 75 | $12.00 | $900 |
| March 14 | purchase | 380 | $13.00 | $4940 |
| July 30 | purchase | 500 | $15.00 | $7500 |
| October 4 | purchase | 450 | $16.00 | $7200 |
| Units available | 1105 | |||
| Cost of Goods | $20540 |
The company makes sales in the following dates
| Date | Sale | Number of units |
| Jan 10 | sale | 70 units |
| March 15 | sale | 180 units |
| Oct 15 | sale | 450 units |
| Total | 700 units |
Assign the cost of the inventory using the following
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FIFO
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Weighted Average
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