Weighted average cost flow method under perpetual inventory system The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 9,000 units at $50.00 Mar. 18 Sale 7,000 units May 2 Aug. 9 Oct. 20 Purchase Sale Purchase The 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 Exhibit 5. Round your "Unit Cost" answers to two decimal places. 8,000 units at $56.50 8,000 units 4,000 units at $60.00 Weighted Average Cost Flow Method

Weighted average cost flow method under perpetual inventory system The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 9,000 units at $50.00 Mar. 18 Sale 7,000 units May 2 Aug. 9 Oct. 20 Purchase Sale Purchase The 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 Exhibit 5. Round your "Unit Cost" answers to two decimal places. 8,000 units at $56.50 8,000 units 4,000 units at $60.00 Weighted Average Cost Flow Method

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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. 18Sale7,000 unitsMay 2Purchase8,000 units at $56.50A

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 50E: Inventory Costing Methods Crandall Distributors uses a perpetual inventory system and has the...

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