Below are the merchandise transactions of Yellow Company for the month of January 2019. January 1, 2019 Beginning Inventory, 3.000 units purchased at 6TL per unit. January 5, 2019 Purchased 3,000 units at 8TL per unit. January 10, 2019 Purchased 4,000 units at 12TL per unit. January 15, 2019 Sold 8.000 units for 15TL (sale price) per unit. January 20, 2019 Purchased 2.000 units at 13TL per unit January 25, 2019 Sold 3.000 units for 17TL (sale price) per unit Required: Under Weighted Average Costing Method a) Journalize the Transactions by preparing and Inventory Card. b) Calculate Gross P/L and Cost of Ending Inventory. Someone did for jan 20 purhased 2.000 units * 12 but I dont understand why 12? Why not 13?
Below are the merchandise transactions of Yellow Company for the month of January 2019. January 1, 2019 Beginning Inventory, 3.000 units purchased at 6TL per unit. January 5, 2019 Purchased 3,000 units at 8TL per unit. January 10, 2019 Purchased 4,000 units at 12TL per unit. January 15, 2019 Sold 8.000 units for 15TL (sale price) per unit. January 20, 2019 Purchased 2.000 units at 13TL per unit January 25, 2019 Sold 3.000 units for 17TL (sale price) per unit Required: Under Weighted Average Costing Method a) Journalize the Transactions by preparing and Inventory Card. b) Calculate Gross P/L and Cost of Ending Inventory. Someone did for jan 20 purhased 2.000 units * 12 but I dont understand why 12? Why not 13?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Below are the merchandise transactions of Yellow Company for the month of January 2019.
January 1, 2019
Beginning Inventory, 3.000 units purchased at 6TL per unit.
January 5, 2019
Purchased 3,000 units at 8TL per unit.
January 10, 2019
Purchased 4,000 units at 12TL per unit.
January 15, 2019
Sold 8.000 units for 15TL (sale price) per unit.
January 20, 2019
Purchased 2.000 units at 13TL per unit
January 25, 2019
Sold 3.000 units for 17TL (sale price) per unit
Required: Under Weighted Average Costing Method
a) Journalize the Transactions by preparing and Inventory Card.
b) Calculate Gross P/L and Cost of Ending Inventory.
Someone did for jan 20 purhased 2.000 units * 12 but I dont understand why 12? Why not 13?
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