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.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Perpetual Inventory Using Weighted Average
Beginning inventory, purchases, and sales for WCS12 are as follows:
Oct. 1
13
22
29
Inventory
Sale
Feedback
Show Me How
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.
Check My Work
310 units at $14
190 units
380 units at $17
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.
200 units
Check My Work
When the average cost method is used in a perpetual inventory system, an average unit cost for each item is computed each time a purchase is made. This unit cost is used to determine the cost of each sale until another purchase is made and
W
All work saved.
Email Instructor Save and Exit
Previ
Submit A
Transcribed Image Text:agehow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=false eBook Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 13 22 29 Inventory Sale Feedback Show Me How 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. Check My Work 310 units at $14 190 units 380 units at $17 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. 200 units Check My Work When the average cost method is used in a perpetual inventory system, an average unit cost for each item is computed each time a purchase is made. This unit cost is used to determine the cost of each sale until another purchase is made and W All work saved. Email Instructor Save and Exit Previ Submit A
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