Question
Weighted Average Cost Method with Perpetual Inventory The beginning inventory of merchandise at Rhodes Co. and data on purchases and sales for a three-month period
Weighted Average Cost Method with Perpetual Inventory
The beginning inventory of merchandise at Rhodes Co. and data on purchases and sales for a three-month period ending June 30 are as follows:
| Date | Transaction | Number of Units | Per Unit | Total | ||||
| Apr. 3 | Inventory | 40 | $670 | $26,800 | ||||
| 8 | Purchase | 120 | 690 | 82,800 | ||||
| 11 | Sale | 60 | 1,120 | 67,200 | ||||
| 30 | Sale | 50 | 1,120 | 56,000 | ||||
| May 8 | Purchase | 100 | 700 | 70,000 | ||||
| 10 | Sale | 80 | 1,120 | 89,600 | ||||
| 19 | Sale | 30 | 1,120 | 33,600 | ||||
| 28 | Purchase | 120 | 707 | 84,840 | ||||
| June 5 | Sale | 60 | 1,260 | 75,600 | ||||
| 16 | Sale | 40 | 1,260 | 50,400 | ||||
| 21 | Purchase | 180 | 712 | 128,160 | ||||
| 28 | Sale | 190 | 1,260 | 239,400 | ||||
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
14th Edition
978-0132960649, 132960648, 132109174, 978-0132109178
