company's inventory records show the following data for the month of July.DateJuly 1July 5July 10July 20July 25July 1DateActivitiesBeginning inventoryPurchaseSalePurchaseSaleJuly 5Average cost July 5July 10July 20200 units @ $50If the company uses the weighted average method and the perpetual inventory system, what would be the cost of its endinginventory?Average cost July 20July 25Total July 25Goods purchasedNumber of Cost perunitsunit50 at $ 75.00Units Acquired at Cost Units Sold at Retail100 units @ $72 = $7,20050 units @ $75 = $3,750225 at $ 77.00225 units @ $77 =$17,325Numberof unitssoldCost of Goods SoldCost per Cost of GoodsSoldunit75 at $ 50.00 =200 at$ 50.00$75 units @ $50$$3,750.0010,000.0010,000.00Number ofunits100 atInventory Balance100 at50 at150 atCost per unit Inventory Balance7,200.007,200.003,750.0010,950.00$175 at$$$75 at150 at225 at $375 at$50.00 =$ +73.00 =77.00 =75.4075.00 =5572.00 =$$72.00 = $75.00 =73.00S$ 3,750.00$ 10,950.0017,325.0028,275.00$$ 13,125.00$ 13,125.00

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Description: company's inventory records show the following data for the month of July.DateJuly 1July 5July 10July 20July 25July 1DateActivitiesBeginning inventoryPurchaseSalePurchaseSaleJuly 5Average cost July 5July 10July 20200 units @ $50If the company uses t

Under weighted average cost method using perpetual inventory system, value of ending inventory is…

Business

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A company's inventory records show the following data for Date July 1 July 5 July 10 July 20 July 25 July 1 Activities Beginning inventory Purchase Sale Purchase Sale Date Goods purchased Number of Cost per units unit Units Acquired at Cost 100 units @ $72= $7,200 50 units @ $75 - $3,750 200 units @ $50 If the company uses the weighted average method and the perpetual inventory system, what would be the cost of its ending inventory? 50 at $ 75.00 225 units @ $77 = $17,325 Number of units sold Units Sold at Retail Cost of Goods Sold Cost per unit 75 units @ $50 Cost of Goods Sold Number of units Inventory Balance Cost per unit Inventory Balance 7,200.00 100 at S 100 at $ 72.00 = 72.00- $ 7,200.00

A company's inventory records show the following data for Date July 1 July 5 July 10 July 20 July 25 July 1 Activities Beginning inventory Purchase Sale Purchase Sale Date Goods purchased Number of Cost per units unit Units Acquired at Cost 100 units @ $72= $7,200 50 units @ $75 - $3,750 200 units @ $50 If the company uses the weighted average method and the perpetual inventory system, what would be the cost of its ending inventory? 50 at $ 75.00 225 units @ $77 = $17,325 Number of units sold Units Sold at Retail Cost of Goods Sold Cost per unit 75 units @ $50 Cost of Goods Sold Number of units Inventory Balance Cost per unit Inventory Balance 7,200.00 100 at S 100 at $ 72.00 = 72.00- $ 7,200.00

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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