Hawthorne Wipes sells sanitizing wipes. They started 2020 with 6,000 packs of wipes, the cost of each being $15. Merchandisetransactions for the month of January 2020 are as follows:PurchasesUnit Cost$12Total Cost$96,000DateUnits8,0001/5/181/8/184,000$14$56,0001/15/1810,000$17S170,0001/23/183,000$33,000Totals25,000$355,000SalesDateUnits1/6/182,0001/14/186,0001/20/183,000Total11,000Assuming a weighted-average perpetual inventory approach, calculate January's Cost of Goods Sold.

Weighted Average Cost per Unit = Purchases + Cost Beginning StockBeginning Units + Total Units…

Hawthorne Wipes sells sanitizing wipes. They started 2020 with 6.000 packs of wipes, the cost of each being $15. Merchand transactions for the month of January 2020 are as follows Purchases U'nit Cost Total Cost Date 1/5/18 L'nits 8,000 S12 $96,000 1/8/18 4,000 $14 $56,000 $170,000 $33,000 1/15/18 10,000 $17 1/23/18 3,000 Totals 25,000 $355,000 Sales Date 16/18 U'nits 2,000 1/14/18 6,000 1/20/18 3,000 Total 11,000 Assuming a weighted-average perpetual inventory approach, calculate January's Cost of Goods Sold.

Hawthorne Wipes sells sanitizing wipes. They started 2020 with 6.000 packs of wipes, the cost of each being $15. Merchand transactions for the month of January 2020 are as follows Purchases U'nit Cost Total Cost Date 1/5/18 L'nits 8,000 S12 $96,000 1/8/18 4,000 $14 $56,000 $170,000 $33,000 1/15/18 10,000 $17 1/23/18 3,000 Totals 25,000 $355,000 Sales Date 16/18 U'nits 2,000 1/14/18 6,000 1/20/18 3,000 Total 11,000 Assuming a weighted-average perpetual inventory approach, calculate January's Cost of Goods Sold.

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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