Blossom Retailers uses a perpetual inventory system. Data for athletic t-shirts include the following purchases:DateJune 6Aug. 20Numberof Units]64]44On 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 weightedaverage cost per unit to 3 decimals places e.g. 52.750 and total amounts to 2 decimal places e.g.5,275.25.)UnitCost$1210Units$Cost of Goods SoldCost|||$$TotalCCC Blossom Retailers uses a perpetual inventory system. Data for athletic t-shirts include the following purchases:DateJune 6Aug. 20DateJune 6July 9On July 9, Blossom sold 42 t-shirts, and on September 7, 54 more units.Prepare the perpetual inventory record for the above transactions using weighted average. (Round weightedaverage cost per unit to 3 decimals places e.g. 52.750 and total amounts to 2 decimal places e.g.5,275.25.)Aug. 20Sept. 7Numberof UnitsTotal6444UnitCost$1210Units$PurchasesCost$$Total

In Weighted average method Total cost of units divided by total number of units to get the Weighted…

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 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.) Unit Cost $12 10 Units $ Cost of Goods Sold Cost ||| $ $ Total C

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 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.) Unit Cost $12 10 Units $ Cost of Goods Sold Cost ||| $ $ Total C

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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