A company's inventory records show the following data for the month of July. Units Sold at Retail Date July 1 Activities July 5 Beginning inventory Purchase Units Acquired at Cost 100 units @ $51 = $5,100 se units @ $54 = $2,700 July 18 Sale 75 units @ $50 July 20 July 25 Purchase Sale 225 units @$56 = $12,600 200 units @ $50 If the company uses the weighted average method and the perpetual inventory system, what would be the cost of its ending inventory? July 1 July 5 Goods purchased Cost of Goods Sold Inventory Balance Date Number of Cost per units unit Number of units sold Cost per unit Cost of Goods Sold Number of units Cost per unit Inventory Balance 100 at S 51.00= S 5.100.00 Average cost July 5 July 10 July 201 Average cost July 20 July 25 Total July 25 +

A company's inventory records show the following data for the month of July. Units Sold at Retail Date July 1 Activities July 5 Beginning inventory Purchase Units Acquired at Cost 100 units @ $51 = $5,100 se units @ $54 = $2,700 July 18 Sale 75 units @ $50 July 20 July 25 Purchase Sale 225 units @$56 = $12,600 200 units @ $50 If the company uses the weighted average method and the perpetual inventory system, what would be the cost of its ending inventory? July 1 July 5 Goods purchased Cost of Goods Sold Inventory Balance Date Number of Cost per units unit Number of units sold Cost per unit Cost of Goods Sold Number of units Cost per unit Inventory Balance 100 at S 51.00= S 5.100.00 Average cost July 5 July 10 July 201 Average cost July 20 July 25 Total July 25 +

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter5: Inventories And Cost Of Goods Sold

Section: Chapter Questions

Problem 5.11E: Inventory Costing Methods VanderMeer Inc. reported the following information for the month of...

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