Homework Help is Here – Start Your Trial Now!
Business
Accounting
Concord Company's record of transactions concerning part WA6 for the month of September was as follows: Purchases September 1 (balance on hand) 3 (a1) (a2) 12 16 22 26 Your answer is correct. Weighted-average cost per unit 300 x Your answer is incorrect. 200 300 300 @ 500 300 $11.40 11.50 11.65 11.70 11.70 11.80 Sales September 4 17 27 300 11.64 400 Calculate weighted-average cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 2 decimal places, e.g. 2.76.) 600 30 200 Compute the inventory at September 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost. (Round average cost per unit to 2 decimal places, e.g. 2.76 and final answers to 0 decimal places, e.g. 6,548.)

Concord Company's record of transactions concerning part WA6 for the month of September was as follows: Purchases September 1 (balance on hand) 3 (a1) (a2) 12 16 22 26 Your answer is correct. Weighted-average cost per unit 300 x Your answer is incorrect. 200 300 300 @ 500 300 $11.40 11.50 11.65 11.70 11.70 11.80 Sales September 4 17 27 300 11.64 400 Calculate weighted-average cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 2 decimal places, e.g. 2.76.) 600 30 200 Compute the inventory at September 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost. (Round average cost per unit to 2 decimal places, e.g. 2.76 and final answers to 0 decimal places, e.g. 6,548.)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
Please provide answer in text (Without image), answer complete question
Concord Company's record of transactions concerning part WA6 for the month of September was as follows: September 1 (balance on hand) 3 (a1) (a2) 12 16 22 26 Purchases ✓ Your answer is correct. Weighted average cost per unit x Your answer is incorrect. Ending inventory $ eTextbook and Media Save for Later 300 @ $11.40 200 @ 11.50 (1) FIFO 300 @ 11.65 300 @ 11.70 500 @ 11.70 300 @ 11.80 $ Calculate weighted-average cost per unit. Assume that perpetual inventory records are kept in units only (Round answer to 2 decimal places, e.g. 2.76.) 12840 11.64 $ Sales September 4 17 Compute the inventory at September 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost. (Round average cost per unit to 2 decimal places, e.g. 2.76 and final answers to 0 decimal places, e.g. 6,548.) (2) LIFO 27 400 600 300 30 200 13865 $ (3) Average-cost Attempts: 1 of 5 used 21712 Submit Answer
Transcribed Image Text:Concord Company's record of transactions concerning part WA6 for the month of September was as follows: September 1 (balance on hand) 3 (a1) (a2) 12 16 22 26 Purchases ✓ Your answer is correct. Weighted average cost per unit x Your answer is incorrect. Ending inventory $ eTextbook and Media Save for Later 300 @ $11.40 200 @ 11.50 (1) FIFO 300 @ 11.65 300 @ 11.70 500 @ 11.70 300 @ 11.80 $ Calculate weighted-average cost per unit. Assume that perpetual inventory records are kept in units only (Round answer to 2 decimal places, e.g. 2.76.) 12840 11.64 $ Sales September 4 17 Compute the inventory at September 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost. (Round average cost per unit to 2 decimal places, e.g. 2.76 and final answers to 0 decimal places, e.g. 6,548.) (2) LIFO 27 400 600 300 30 200 13865 $ (3) Average-cost Attempts: 1 of 5 used 21712 Submit Answer
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Financial Reporting in Hyperinflationary Economies
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS