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Use the Dynamic Exhibit to answer the following questions. Round your answers to two decimal places, if necessary. 1. When the number of units sold
Use the Dynamic Exhibit to answer the following questions. Round your answers to two decimal places, if necessary.
1. When the number of units sold on November 21 is 36, the cost of merchandise sold on November 21 is $.
2. When the number of units sold on November 21 is 36, the ending inventory on November 30 is $.
3. When the number of units sold on November 21 is 8, the cost of merchandise sold on November 21 is $.
4. When the number of units sold on November 21 is 50, the ending inventory on November 30 is $.
Perpetual Inventory Using Weighted Average: Beginning inventory, purchases, and sales for Item ER27 are as follows Inventory Sale 40 units at $5 30 units Nov. 1 5 11 Purchase 70 units at $7 21 Sale 36 units Assuming a perpetual inventory system and using the Weighted Average method, determine (a) the cost of merchandise sold on November 21 and (b) the inventory on November 30. Move the slider to change the values. 10 36 Number of units sold on November 21 Click on to view the information. View Analysis Purchases Cost of Merchandise Sold Inventory Quantity Unit Cost Total CostQuantity Unit CostTotal Cost Quantity Unit Cost Total Cost Nov. 1 40 5.00 200.00 500 150.00 0 10 5.00 50.00 ? Nov. 5 30 ? 540.00 Nov 11 70 7.00 490.00 80 6.75 Nov. 21 36 6.75 243.00 6.75 297.00 Nov. 30 Balances 393.00 297,00Step by Step Solution
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