Numberof UnitsDateTransactionCostApr. 1 Beginning inventoryApr.20 Purchase480$2.035e2.68Dunbar sold 590 unts of inentory during the month Endng inventory assuning welhted average cost would bedecimal pisces and final enswer to the neerest doller amount)

Weighted average method is a method of inventory valuation where unit cost of goods available is…

Answered: Number of Units Date Transaction Cost…

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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DATE DETAILS UNITS COST PER UNIT 1 OPENING INVENTORY 20 R85 7 Purchases 23 R90 16 Purchases 33 R95 25 Purchases 18 R100 31 Sales for the month 69 Calculate the value of closing inventory using the Weighted average cost inventory valuationmethod.
Beginning inventory, purchases, and sales for Item Copper are as follows: Mar. 1 Inventory 450 units at $7 Sale 390 units 13 Purchase 410 units at $8 25 Sale 340 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) the inventory on March 31. a. Cost of merchandise sold on March 25 2,720 X b. Inventory on March 31 980
Current Attempt in Progress Bramble Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1, of 490 bookcases at a cost of $131 each. During June, the company had the following purchases and sales of bookcases: Purchases Sales Date Units Unit Cost Units Unit Price June 6 1,200 $133 10 10 1,050 $197 14 1,740 134 16 1,630 202 96 26 1,030 135 (a) Determine the cost of goods sold and the cost of the ending inventory using the average cost formula. (Use unrounded numbers for average cost calculations. Round answers to 2 decimal places. e.g 5.52.) Cost of goods sold $
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2
Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: 340 units at $14 160 units 320 units at $15 400 units Inventory Sale Purchase Sale a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places. 14.64 ✓ per unit Oct. 1 13 22 29 b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places. 5,856.00 c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places. 14.64 X
Bleistine Company had the following transactions for the month. F3 # 3 E Beginning inventory Purchased Jun. 1 Purchased Nov. 1 Ending inventory Calculate the ending inventory dollar value for FIFO periodic. 3,850 110 O4,560 O4,730 KA F4 $ 4 R F5 do 5 Number of Units % 880 750 800 110 F6 T < 6 DELL (7) Cost per Unit $35 40 43 ? F7 Y & 7 (DELL F8 U * 00 F9 8 F10 PrtScr F11 86°F
ventory records for Marvin Company... Inventory records for Marvin Company revealed the following: Mar. 1 Beginning inventory Cont 1,090 $7.14 Mar.10 Purchase 500 7.27 Mar.16 Purchase 850 7.40 Mar.23 Purchase 510 7.68 Marvin sold 2,000 units of inventory during the month. Cost of goods sold assuming calculations and round your final answer to nearest dollar amount. Round weight Multiple Choice $14.280

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Number of Units Date Transaction Cost Apr. 1 Beginning inventory Apr.20 Purchase 480 $2.0 35e 2.68 Dunbar sold 590 unts of inentory during the month Endng inventory assuning welhted average cost would be decimal pisces and final enswer to the neerest doller amount)