A company starts the year with twenty units of inventory costing $20 each. In January, ten of these units are sold for $40 each. Then, ten new units are bought for $22 each. Shortly thereafter, ten units are sold for $50 each. Then, ten units are bought for $27 each. Finally, near the end of the year, ten units are sold for $60 each. If a weighted average (periodic) system is in use, the cost of ending inventory is: If a weighted average (perpetual) system is in use, the cost of ending inventory is:
A company starts the year with twenty units of inventory costing $20 each. In January, ten of these units are sold for $40 each. Then, ten new units are bought for $22 each. Shortly thereafter, ten units are sold for $50 each. Then, ten units are bought for $27 each. Finally, near the end of the year, ten units are sold for $60 each. If a weighted average (periodic) system is in use, the cost of ending inventory is: If a weighted average (perpetual) system is in use, the cost of ending inventory is:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A company starts the year with twenty units of inventory costing $20 each. In January, ten of these units are sold for $40 each. Then, ten new units are bought for $22 each. Shortly thereafter, ten units are sold for $50 each. Then, ten units are bought for $27 each. Finally, near the end of the year, ten units are sold for $60 each.
If a weighted average (periodic) system is in use, the cost of ending inventory is:
If a weighted average (perpetual) system is in use, the cost of ending inventory is:
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