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) inventory valuation method is used. DateTransactionNumber of UnitsPer UnitTotal Apr 1Inventory10,500$1.50000$15,750 Apr 8Purchase12,000$1.59375$19,125 Apr 11Sold11,000$2.50000$27,500 Apr 12Sold9,500$2.50000$23,750 Apr 14Purchase8,000$1.65000$13,200 Apr 15Sold5,000$2.60000$13,000 Apr 19Sold4,000$2.60000$10,400 Apr 22Purchase6,000$1.70000$10,200 Apr 24Sold3,000$2.60000$7,800 Apr 25Sold3,000$2.60000$7,800 Apr 26Purchase9,000$1.72000$15,480 Apr 28Sold5,000$2.60000$13,000

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Description: 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) inventory valuation method is used.

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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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)
inventory valuation method is used.

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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