eighted average cost flow method under perpetual inventory system e following units of a particular item were available for sale during the calendar year: n. 1 Inventory 9,000 units at $50.00 ar. 18. 7,000 units ay 2 8,000 units at $56.50 8,000 units 4,000 units at $60.00 g. 9 t. 20 Date n. 1 r. 18 e firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in mibit 5. Round your "Unit Cost" answers to two decimal places. y 2 9.9 t. 20 Sale ec. 31 Purchase Sale Purchase Purchases Quantity Balances 8,000 4,000 Purchases Unit Cost 56.50 60 Furchases Total Cost 452,000 240,000 Weighted Average Cost Flow Method Cost of Goods Sold Unit Cost Cost of Goods Sold Quantity 7,000 8,000 50 Cost of Goods Sold Total Cost 350,000 Inventory Quantity 9,000 2,000 10,000 Inventory Unit Cost 50 50 Inventor Total Cos 450, 100, 552,

eighted average cost flow method under perpetual inventory system e following units of a particular item were available for sale during the calendar year: n. 1 Inventory 9,000 units at $50.00 ar. 18. 7,000 units ay 2 8,000 units at $56.50 8,000 units 4,000 units at $60.00 g. 9 t. 20 Date n. 1 r. 18 e firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in mibit 5. Round your "Unit Cost" answers to two decimal places. y 2 9.9 t. 20 Sale ec. 31 Purchase Sale Purchase Purchases Quantity Balances 8,000 4,000 Purchases Unit Cost 56.50 60 Furchases Total Cost 452,000 240,000 Weighted Average Cost Flow Method Cost of Goods Sold Unit Cost Cost of Goods Sold Quantity 7,000 8,000 50 Cost of Goods Sold Total Cost 350,000 Inventory Quantity 9,000 2,000 10,000 Inventory Unit Cost 50 50 Inventor Total Cos 450, 100, 552,

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Description: Weighted average cost flow method under perpetual inventory systemThe following units of a particular item were available for sale during the calendar year:Jan. 1Inventory9,000 units at $50.00Mar. 187,000 unitsMay 28,000 units at $56.50Aug. 98,000 u

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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