Question 4 of 16 Current Attempt in Progress -/10 E Tamarisk Company uses a perpetual inventory system. Beginning inventory is 4,500 T-shirts at a cost $2.50 per shirt. During the year Tamarisk had the following inventory transactions: Jan. 12 Purchased Feb. 18 Sold 900 units @2.15 per unit 2,350 units @ 6.50 per unit July 1 Purchased Aug. 29 Sold 3,000 units @ 2.65 per unit 2,400 units @ 7.50 per unit Dec. 19 Purchased 900 units @3.05 per unit All purchases and sales are on account. Calculate the cost of goods sold and ending inventory using weighted average. (Round the weighted average cost per unit to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 5,275.) Weighted average Cost of goods sold Ending inventory $

Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter6: Inventories
Section: Chapter Questions
Problem 6.3BE: Perpetual inventory using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as...
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Question 4 of 16
Current Attempt in Progress
-/10 E
Tamarisk Company uses a perpetual inventory system. Beginning inventory is 4,500 T-shirts at a cost $2.50 per shirt. During the year
Tamarisk had the following inventory transactions:
Jan. 12 Purchased
Feb. 18
Sold
900 units @2.15 per unit
2,350 units @ 6.50 per unit
July 1 Purchased
Aug. 29 Sold
3,000 units @ 2.65 per unit
2,400 units @ 7.50 per unit
Dec. 19 Purchased
900 units @3.05 per unit
All purchases and sales are on account.
Calculate the cost of goods sold and ending inventory using weighted average. (Round the weighted average cost per unit to 2
decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 5,275.)
Weighted average
Cost of goods sold
Ending inventory
$
Transcribed Image Text:Question 4 of 16 Current Attempt in Progress -/10 E Tamarisk Company uses a perpetual inventory system. Beginning inventory is 4,500 T-shirts at a cost $2.50 per shirt. During the year Tamarisk had the following inventory transactions: Jan. 12 Purchased Feb. 18 Sold 900 units @2.15 per unit 2,350 units @ 6.50 per unit July 1 Purchased Aug. 29 Sold 3,000 units @ 2.65 per unit 2,400 units @ 7.50 per unit Dec. 19 Purchased 900 units @3.05 per unit All purchases and sales are on account. Calculate the cost of goods sold and ending inventory using weighted average. (Round the weighted average cost per unit to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 5,275.) Weighted average Cost of goods sold Ending inventory $
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