Blossom Retailers uses a perpetual inventory system. Data for athletic t-shirts include the following purchases: Date June 6 Aug. 20 Number of Units 64 44 Unit Cost $12 10 On July 9, Blossom sold 42 t-shirts, and on September 7, 54 more units. Prepare the perpetual inventory record for the above transactions using weighted average. (Round weighted average cost per unit to 3 decimals places e.g. 52.750 and total amounts to 2 decimal places e.g. 5,275.25.) Units $ LA Inventory Balance Cost $ $ Total

Blossom Retailers uses a perpetual inventory system. Data for athletic t-shirts include the following purchases: Date June 6 Aug. 20 Number of Units 64 44 Unit Cost $12 10 On July 9, Blossom sold 42 t-shirts, and on September 7, 54 more units. Prepare the perpetual inventory record for the above transactions using weighted average. (Round weighted average cost per unit to 3 decimals places e.g. 52.750 and total amounts to 2 decimal places e.g. 5,275.25.) Units $ LA Inventory Balance Cost $ $ Total

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Description: Blossom Retailers uses a perpetual inventory system. Data for athletic t-shirts include the following purchases:DateJune 6Aug. 20Numberof Units6444UnitCost$1210On July 9, Blossom sold 42 t-shirts, and on September 7, 54 more units.Prepare the perpet

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...

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Blossom Retailers uses a perpetual inventory system. Data for athletic t-shirts include the following purchases: Date June 6 Aug. 20 Date June 6 July 9 On July 9, Blossom sold 42 t-shirts, and on September 7, 54 more units. Prepare the perpetual inventory record for the above transactions using weighted average. (Round weighted average cost per unit to 3 decimals places e.g. 52.750 and total amounts to 2 decimal places e.g. 5,275.25.) Aug. 20 Sept. 7 Number of Units Total 64 44 Unit Cost $12 10 Units $ Purchases Cost $ $ Total
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