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Assuming the company uses Weighted Average Cost method, what is the weighted average cost for the inventory at the end of the month? Round to the nearest cent.

Assuming the company uses Weighted Average Cost method, what is the weighted average cost for the inventory at the end of the month? Round to the nearest cent.

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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Raptor Candles has the following inventory schedule for its luxury line of candles. Date quantity unit cost Sales Price $40 $50 3/1/2023 3/3/2023 3/15/2023 3/20/2023 3/10/2023 Assuming the company uses Weighted Average Cost method, what is the weighted average cost for the inventory at the end of the month? Round to the nearest cent. Weighted Average cost at the end of the month $(WAC). : Beginning inventory Purchase Purchase Purchase Sale 60 70 25 200 150 $55 $65 $120
Transcribed Image Text:Raptor Candles has the following inventory schedule for its luxury line of candles. Date quantity unit cost Sales Price $40 $50 3/1/2023 3/3/2023 3/15/2023 3/20/2023 3/10/2023 Assuming the company uses Weighted Average Cost method, what is the weighted average cost for the inventory at the end of the month? Round to the nearest cent. Weighted Average cost at the end of the month $(WAC). : Beginning inventory Purchase Purchase Purchase Sale 60 70 25 200 150 $55 $65 $120
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