Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 310 units at $11 13 22 29 Sale ____ Purchase Sale 160 units 350 units at $13 300 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. $ 1per 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 310 units at $11 13 22 29 Sale ____ Purchase Sale 160 units 350 units at $13 300 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. $ 1per 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. $______ ?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Perpetual Inventory Using Weighted
Average
Beginning inventory, purchases, and sales
for WCS12 are as follows:
Oct. 1 Inventory 310 units at $11
13
22
29
Sale
Purchase
Sale
160 units
350 units at $13
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.
__1per 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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