The following were the information provided by UNIKELO retail: Purchases and Beginning Inventory • January 1, Inventory - 250 units @ P10.50 • March 7 - Purchases - 200 units @ P11.00 July 15 Purchases - 275 unites @ P11.75 July 20 - Purchase returns - 50 units @ P11.00 Sales

The following were the information provided by UNIKELO retail: Purchases and Beginning Inventory • January 1, Inventory - 250 units @ P10.50 • March 7 - Purchases - 200 units @ P11.00 July 15 Purchases - 275 unites @ P11.75 July 20 - Purchase returns - 50 units @ P11.00 Sales

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 2PEA: Beginning inventory, purchases, and sales for Item ProX2 are as follows: Assuming a perpetual...

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Question

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Here is the question:

1. Assume instead, the Company uses the Moving Average method in the measurement of its inventories, how much would be the weighted average cost per unit of the sales made at May 20? (Round off the final answers to two decimal places)

Problem 2
The following were the information provided by UNIKELO retail:
Purchases and Beginning Inventory
January 1, Inventory - 250 units @ P10.50
• March 7 - Purchases - 200 units @ P11.00
July 15 - Purchases - 275 unites @ P11.75
July 20 - Purchase returns - 50 units @ P11.00
Sales
May 20 - Sales 120 units @ P14.00 Selling price per unit
• June 30 - Sales - 55 units @ P15.00 Selling price per unit
Sept. 17 - Sales 250 units @ P16.00 Selling price per unit
The Company uses the weighted average method in themeasurement of its inventories (Periodic).

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