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Vector Enterprises records the cost of its inventory using the Weighted Average method using the perpetual approach. Below is the purchase and sale history of
Vector Enterprises records the cost of its inventory using the Weighted Average method using the perpetual approach. Below is the purchase and sale history of cat treats: Date Units Oct 1 s/Unit 104 $ $ 66.02 Transaction Opening Bal Purchase Sale Purchase Oct 6 68.60 Oct 14 102 105 S 59.20 Oct 12 491 ??? Sale Oct 24 REQUIRED: Determine the balances for ending Inventory and Cost of Goods Sold for the month of October. How would your answer change if they switched method: to First-In, First Out? Make sure you show all your work. (10 marks)
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