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50 units @ $30 = $1,5 $7, 225 units @ $32 ighted average method and the perpetua

50 units @ $30 = $1,5 $7, 225 units @ $32 ighted average method and the perpetua

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A company's inventory records show the following data for the month of July. Units Acquired at Cost 100 units @ $27 = $2,700 50 units @ $30 = = $1,500 225 units@ $32 = $7,200 Date July 1 July 5 July 10 July 20 July 25 July 1 Date Activities Beginning inventory Purchase Sale Purchase Sale If the company uses the weighted average method and the perpetual inventory system, what would be the cost of its ending inventory? July 5 Average cost July 5 July 10 July 20 Average cost July 20 July 25 Total July 25 Goods purchased Number of Cost per units unit Units Sold at Retail Number of units sold 75 units @ $50 200 units @ $50 Cost of Goods Sold Cost per Cost of Goods unit Sold Number of units Inventory Balance Cost per unit Inventory Balance
Transcribed Image Text:A company's inventory records show the following data for the month of July. Units Acquired at Cost 100 units @ $27 = $2,700 50 units @ $30 = = $1,500 225 units@ $32 = $7,200 Date July 1 July 5 July 10 July 20 July 25 July 1 Date Activities Beginning inventory Purchase Sale Purchase Sale If the company uses the weighted average method and the perpetual inventory system, what would be the cost of its ending inventory? July 5 Average cost July 5 July 10 July 20 Average cost July 20 July 25 Total July 25 Goods purchased Number of Cost per units unit Units Sold at Retail Number of units sold 75 units @ $50 200 units @ $50 Cost of Goods Sold Cost per Cost of Goods unit Sold Number of units Inventory Balance Cost per unit Inventory Balance
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