FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Perpetual Inventory Using Weighted Average

Beginning inventory, purchases, and sales for WCS12 are as follows:

Oct. 1   Inventory 310 units at $12
13   Sale 160 units
22   Purchase 350 units at $15
29   Sale 200 units

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.
$fill in the blank 1per 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.
$fill in the blank 2

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.
$fill in the blank 3

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