Complete the inventory schedule assuming the Weighted Average (WAVG) inventory valuation method is used.
Complete the inventory schedule assuming the Weighted Average (WAVG) inventory valuation method is used.
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 4PEA: Beginning inventory, purchases, and sales for 30xT are as follows: Assuming a perpetual inventory...
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The beginning inventory and the purchases and sales of inventory for April for the Concord Company | |||||||||
are as presented below. Complete the inventory schedule assuming the Weighted Average (WAVG) | |||||||||
Date | Transaction | Number of Units | Per Unit | Total | |||||
Apr 1 | Inventory | 10,500 | $1.50000 | $15,750 | |||||
Apr 8 | Purchase | 12,000 | $1.59375 | $19,125 | |||||
Apr 11 | Sold | 11,000 | $2.50000 | $27,500 | |||||
Apr 12 | Sold | 9,500 | $2.50000 | $23,750 | |||||
Apr 14 | Purchase | 8,000 | $1.65000 | $13,200 | |||||
Apr 15 | Sold | 5,000 | $2.60000 | $13,000 | |||||
Apr 19 | Sold | 4,000 | $2.60000 | $10,400 | |||||
Apr 22 | Purchase | 6,000 | $1.70000 | $10,200 | |||||
Apr 24 | Sold | 3,000 | $2.60000 | $7,800 | |||||
Apr 25 | Sold | 3,000 | $2.60000 | $7,800 | |||||
Apr 26 | Purchase | 9,000 | $1.72000 | $15,480 | |||||
Apr 28 | Sold | 5,000 | $2.60000 | $13,000 |
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