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Walter does some reading and notices that his favorite clothier, The GAP, uses weighted-average inventory valuation. He wonders what that would do for his business.
Walter does some reading and notices that his favorite clothier, The GAP, uses weighted-average inventory valuation. He wonders what that would do for his business. Use the same dog bed inventory information that you just used in the LIFO problem to determine weighted-average costs: Quantity Price 400 30 Beginning inventory Purchases 6/2 200 28 6/15 Sales 125 50 6/21 Purchases 80 25 6/27 Purchases 100 32 6/29 Sales 175 48 6/30 Sales 140 55 Using this information, complete the following summary. Type your answer using numbers only -- do not include commas or dollar signs. (For example, if your answer is $12,435, you should enter 12345; round to the nearest dollar and do not include cents.) Under the weighted average cost flow assumption, for the month of June, Walter's Wonderful Store dog bed sales... Gross profit: Cost of goods sold: Ending inventory (units): Ending inventory (value)
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