Dec. 31 Ending inventory q:145 selling price:19Jan. 2 Purchase q:90 selling price:21Jan. 6 Sale...Dec....

50.1K

Verified Solution

Question

Accounting

Dec. 31 Ending inventory q:145 selling price:19
Jan. 2 Purchase q:90 selling price:21
Jan. 6 Sale q:166 seling price:43
Jan. 9 Purchase q:75 selling price:23
Jan. 10 Sale q:52 Selling price:48
Jan. 23 Purchase q:94 selling price:24
Jan. 30 Sale q:143 selling price:51
calculate average cost for each unit

Answer & Explanation Solved by verified expert

4.1 Ratings (541 Votes)

SOLUTION WE ASSUME THAT ENTITY ELECT TO USE THE WEIGHTED AVERAGE COST METHOD CALCULATION OF WEIGHTED AVERAGE COST PER UNIT FOR MONTH OF JANUARY PARTICULARS CHANGE IN QUANTITY UNIT COST TOTAL ACTUAL COSTCHANGE IN QUANTITYCOST UNIT BEGINNING INVENTORY 145 19 2755 PURCHASE JAN 2 90 21 1890 SALE See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member

Transcribed Image Text

In: AccountingDec. 31 Ending inventory q:145 selling price:19Jan. 2 Purchase q:90 selling price:21Jan. 6 Sale...Dec. 31 Ending inventory q:145 selling price:19Jan. 2 Purchase q:90 selling price:21Jan. 6 Sale q:166 seling price:43Jan. 9 Purchase q:75 selling price:23Jan. 10 Sale q:52 Selling price:48Jan. 23 Purchase q:94 selling price:24Jan. 30 Sale q:143 selling price:51calculate average cost for each unit