Perpetual inventory using weighted average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 320 units at $20 Oct. 13 Sale 200 units Oct. 22 Purchase 380 units at $22 Oct. 29 Sale 300 units 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. per unit 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. 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.

Perpetual inventory using weighted average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 320 units at $20 Oct. 13 Sale 200 units Oct. 22 Purchase 380 units at $22 Oct. 29 Sale 300 units 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. per unit 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. 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.

Name: Please do not give solution in image format thanku Perpetual inventory
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Description: Please do not give solution in image format thanku Perpetual inventory using weighted averageBeginning inventory, purchases, and sales for WCS12 are as follows:Oct. 1320 units at $20Oct. 13200 unitsOct. 22380 units at $22Oct. 29 Sale300 unitsa. Assum

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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Concept explainers

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.

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Please do not give solution in image format thanku

Perpetual inventory using weighted average
Beginning inventory, purchases, and sales for WCS12 are as follows:
Oct. 1
320 units at $20
Oct. 13
200 units
Oct. 22
380 units at $22
Oct. 29 Sale
300 units
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.
per unit
Inventory
Sale
Purchase
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.
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.

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