Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 300 units at $15 13 Sale 170 units 22 Purchase 370 units at $17 29 Sale 200 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. 62.90 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 uni cost" to two decimal places.

Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 300 units at $15 13 Sale 170 units 22 Purchase 370 units at $17 29 Sale 200 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. 62.90 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 uni cost" to two decimal places.

Name: I have been over the perpetual inventory using weighted average and I
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: I have been over the perpetual inventory using weighted average and I still can't seem to grasp the concept of how to do it. Perpetual Inventory Using Weighted AverageBeginning inventory, purchases, and sales for WCS12 are as follows:Oct. 1Inventory3

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

One of the significant remaining differences between U.S. GAAP and IFRS is the treatment of inventory. Which of the following accurately states the reason for this significant difference? O IFRS does not allow LIFO. O IFRS does allow Dollar Value LIFO. O IFRS does allow Weighted Average. O IFRS does not allow FIFO.
How do i calculate ending inventory and cost of goods sold using LIFO?
How does analyzing inventory errors is helpful?
Physical counts of inventory are never made with perpetual inventory systems. True or False True False
I am intrigued by the LIFO inventory valaution method. It seems irrational for all insrtnaces except maybe a coal pile. Why is it adopted?
If a misstatement of inventory occurs, the net income for-----periods will be misstated