Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. perpetual inventory using weighted average beginni

Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows:...

70.2K

Verified Solution

Question

Accounting

Perpetual Inventory Using Weighted Average

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

Oct. 1 Inventory 320 units at $11
13 Sale 190 units
22 Purchase 370 units at $13
29 Sale 300 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

Answer & Explanation Solved by verified expert
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

Other questions asked by students

Medical Sciences
1.2K views

Considering the normal functions of the liver, describe how 3 of the functions would present in...

Chemistry
1.2K views

Calculate ?G

Mechanical Engineering
1.2K views

In a pharmaceutical application distilled water with a flow rate of 34560 kg/hr is to cool...

Accounting
1.2K views

(Inventory Policy) Please determine an optimal inventory policy for following demand and cost parameters. Planning horizon                           One year Expected total...

Basic Math
1.2K views

A homeowner with gas heat in her home has been reviewing her monthly gas bills...

Calculus
1.2K views

Determine the equation for the sphere whose center and radius are given Center Radius 5...

Calculus
1.2K views

Find the domain of the function f x 5x 9 tom

Calculus
1.2K views

A pizza pan is removed at 8 00 PM from an oven whose temperature is...

Accounting
1.2K views

Warren purchased a new harvester for his farm on 1 July 2016 for $180 000....

Accounting
1.2K views

PLEASE ANSWER ALL OF THE REQUIREMENTS WITH EXPLANATION FOR A THUMBS UP! Make sure to...

Finance
1.2K views

You are making a fixed payment loan of 400,000 yuan for 5 years (60 monthly...

Finance
1.2K views

What features of common stock indicate ownership in the corporation versus preferred stock or bonds?...