Perpetual inventory using weighted average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 340 units at $9 Oct. 13 Sale 160 units Oct. 22 Purchase 320 units at $12 Oct. 29 Sale 400 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. $ X 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.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Perpetual inventory using weighted average
Beginning inventory, purchases, and sales for WCS12 are as follows:
Oct. 1 Inventory
340 units at $9
Oct. 13 Sale
160 units
Oct. 22 Purchase
320 units at $12
Oct. 29 Sale
400 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.
$
X 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.
Transcribed Image Text:Perpetual inventory using weighted average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 340 units at $9 Oct. 13 Sale 160 units Oct. 22 Purchase 320 units at $12 Oct. 29 Sale 400 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. $ X 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.
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