Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: 310 units at $14 190 units 380 units at $17 200 units Oct. 1 13 22 29 Inventory Sale Purchase Sale a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places. per unit b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places. c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places.

Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: 310 units at $14 190 units 380 units at $17 200 units Oct. 1 13 22 29 Inventory Sale Purchase Sale a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places. per unit b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places. c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places.

Name: agehow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAss
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: agehow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=falseeBookPerpetual Inventory Using Weighted AverageBeginning inventory, purchases, and sales for WCS12 are as follows:Oct. 1132229InventorySaleF

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

个 Given the following data, calculate the cost of ending inventory using the average cost method. (Round any intermediary and final answers to two decimal places) Date 1/1 3/5 5/30 12/31 Item Beginning inventory Purchase of inventory Purchase of inventory Ending inventory OA. $351 30 OB. $420.00 OC. $330.00 OD. $300.00 Unit 60 units at $10 per unit 30 units at $10 per unit 15 units at $22 per unit 30 units
UMET's Stores had the following inventory transactions in 2020: Transaction Units Cost per unit 1/1 Balance 50 $6 2/14 Sale 25 5/23 Purchase 100 8 8/21 Sale 50 11/5 Purchase 25 12 11/18 Sale 95 Required: Compute tge cost of goods sold and the ending inventory using the periodic inventory system for each of the following cost flow assumptions: a. FIFO b. LIFO c. Weighted average
Give me correct answer with explanation.vi
The XYZ Company completed the following perpetual inventory transactions: May 1 Beginning inventory 20 units @ $ 61 eachMay 11 purchase 6 units @ $ 76 eachMay 23 sale 16 units @ $ 89 eachMay 26 purchase 14 units @ $ 86 eachMay 29 sale 17 units @ $ 89 eachRequirements1. Calculate cost of goods sold, Cost of ending inventory, and gross profit using LIFO.2. During periods of rising prices, which method (FIFO-LIFO-AVCO) results in the highest gross profit? Why?3. Which method would be more consistent with the matching principle? Why?
I need help with question C
Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory 23 units @ $14 5 Sale 13 units 17 Purchase 25 units @ $16 30 Sale 24 units Assuming a perpetual inventory system and the first-in, first-out method: a. Determine the cost of the goods sold for the September 30 sale. %$4 b. Determine the inventory on September 30. $4
Blair Enterprises recorded inventory information for the month of September as follows: Sept. 5 Sept. 65 units at $6 each 55 units at $8 each. Sept. 29 44 units at $10 each Sept. 30 70 units Determine ending inventory cost by (a) the FIFO method, (b) the LIFO method, and (c) the weighted average cost method. Round your answers to the nearest dollar. Purchase Purchase Purchase Ending inventory. 13 FIFO method: LIFO method: Weighted average cost method: 000
B66's transactions involving inventory for the month are shown below. Calculate the dollar amount of Sales, Cost of Goods Sold, Gross Margin and Ending Inventory using the three cost allocation methods (FIFO, LIFO, and Weighted Average) with perpetual inventory updating. Number of Units Unit Cost Sales Beginning Inventory 100 $66 Sold 50 $120 Purchased 80 $75 Sold 25 $125 Ending Inventory 105 Show your calculations and clearly label your solution. Submit your work as an attachment to this assignment.
Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory 24 units @ $15 5 Sale 15 units 17 Purchase 25 units @ $18 30 Sale 16 units Assuming a perpetual inventory system and the last-in, first-out method: a. Determine the cost of the goods sold for the September 30 sale. b. Determine the inventory on September 30.
What is the per unit value of ending inventory on August 31? Answers should be rounded to the nearest cent. Multiple Choice A) $18.00 B)$17.42 C)$19.63 D)$14.00 E)$15.80
Jammer Company uses a weighted average perpetual inventory system and reports the following: Units Sold at Retail Activities Purchase Purchase Sales Units Acquired at Cost 10 units @ $12 $120 15 units @ $15= $225 Purchase Date August 2 August 18 August 29 August 31 14 units @ $16= $224 What is the per unit value of ending inventory on August 31? Answers should be rounded to the nearest cent. Multiple Choice O O $12.00 $13.80 $15.42 $16.00 $17.74 20 units sold 4
Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory 23 units @$17 5 Sale 13 units 17 Purchase 24 units $18 30 Sale 26 units Assuming a perpetual inventory system and the first-in, first-out method: a. Determine the cost of the goods sold for the September 30 sale. b. Determine the inventory on September 30.