Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Windsor Company uses a perpetual inventory system. Beginning inventory is 3,600 T-shirts at a cost $2.50 per shirt. During th Windsor had the following inventory
Windsor Company uses a perpetual inventory system. Beginning inventory is 3,600 T-shirts at a cost $2.50 per shirt. During th Windsor had the following inventory transactions: Jan. 12 Feb. 18 July 1 Aug. 29 Dec. 19 Purchased (a) Sold Purchased Sold Purchased All purchases and sales are on account. 720 units @ 2.15 per unit 1,900 units @ 6.50 per unit 2,100 units @ 2.65 per unit 2,000 units @7.50 per unit 720 units @3.05 per unit Calculate the cost of goods sold and ending inventory using weighted average. (Round the weighted average cost per unit to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 5,275.) Cost of goods sold Ending inventory $ $ Weighted average Erin Schieman
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started