A company's Inventory records show the following data for the month of July. Date July 1 Activities July 5 Beginning inventory Purchase July 10 July 20 July 25 Sale Purchase Sale Units Acquired at Cost 100 units @ $63 = $6,300 50 units @ $66 = $3,300 Units Sold at Retail 75 units @ $50 225 units @ $68 $15,300 200 units @ $50 If the company uses the weighted average method and the perpetual Inventory system, what would be the cost of its ending Inventory? Date Goods purchased Number of Cost per units Cost of Goods Sold Inventory Balance unit Number of units sold Cost per unit Cost of Goods Sold Number of units Cost per unit Inventory Balance July 1 100 at $ 63.00 = S 6,300.00 July 5 50 at $ 54.00 Average cost July 5 100 at $ 150 at $ 250 at $ 63.00 = S 6,300.00 54.00= 52.00 8,100.00 $ 14,400.00 July 10 75 at $ 52.00] = $ 3,900.00 75 at $ 52.00 = S 3,900.00 225 at $68.00 75 at $ 52.00= S 3,900.00 July 20 225 at $ 68.00 = 15,300.00 Average cost July 20 300 at $ 68.00 $ 19,200.00 July 25 200 at Total July 25

A company's Inventory records show the following data for the month of July. Date July 1 Activities July 5 Beginning inventory Purchase July 10 July 20 July 25 Sale Purchase Sale Units Acquired at Cost 100 units @ $63 = $6,300 50 units @ $66 = $3,300 Units Sold at Retail 75 units @ $50 225 units @ $68 $15,300 200 units @ $50 If the company uses the weighted average method and the perpetual Inventory system, what would be the cost of its ending Inventory? Date Goods purchased Number of Cost per units Cost of Goods Sold Inventory Balance unit Number of units sold Cost per unit Cost of Goods Sold Number of units Cost per unit Inventory Balance July 1 100 at $ 63.00 = S 6,300.00 July 5 50 at $ 54.00 Average cost July 5 100 at $ 150 at $ 250 at $ 63.00 = S 6,300.00 54.00= 52.00 8,100.00 $ 14,400.00 July 10 75 at $ 52.00] = $ 3,900.00 75 at $ 52.00 = S 3,900.00 225 at $68.00 75 at $ 52.00= S 3,900.00 July 20 225 at $ 68.00 = 15,300.00 Average cost July 20 300 at $ 68.00 $ 19,200.00 July 25 200 at Total July 25

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter6: Inventories

Section: Chapter Questions

Problem 4BE: Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory...

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