Beginning inventory, purchases, and sales for H76 are as follows: july 1 inventory 300 units at $120 12 sales 210 units 23 purchase 360 units at $135 26 sales 330 units Assuming a perpetual inventory system and using the weighted average method, deter-mine (a) the weighted average unit cost after the July 23 purchase, (b) the cost of the mer-chandise sold on July 26, and (c) the inventory on July 31.
Beginning inventory, purchases, and sales for H76 are as follows: july 1 inventory 300 units at $120 12 sales 210 units 23 purchase 360 units at $135 26 sales 330 units Assuming a perpetual inventory system and using the weighted average method, deter-mine (a) the weighted average unit cost after the July 23 purchase, (b) the cost of the mer-chandise sold on July 26, and (c) the inventory on July 31.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Beginning inventory, purchases, and sales for H76 are as follows:
july 1 inventory 300 units at $120
12 sales 210 units
23 purchase 360 units at $135
26 sales 330 units
Assuming a perpetual inventory system and using the weighted average method, deter-mine (a) the weighted average unit cost after the July 23 purchase, (b) the cost of the mer-chandise sold on July 26, and (c) the inventory on July 31.
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