Raptor Candles has the following inventory schedule for its luxury line of candles. Quantity Unit Cost Sales Price (per unit) Date Purchase 3/1 500 $15.00 Purchase 3/6 750 $17.50 Sale 3/10 800 Purchase 3/19 1400 $21.50 Sale 3/24 1500 $50 $50 Assuming the company uses Weighted Average Cost method, what is the weighted average cost for the inventory at the end of the month? Round to the nearest cent. Weighted Average Cost at the end of the month: $[WAC)
Raptor Candles has the following inventory schedule for its luxury line of candles. Quantity Unit Cost Sales Price (per unit) Date Purchase 3/1 500 $15.00 Purchase 3/6 750 $17.50 Sale 3/10 800 Purchase 3/19 1400 $21.50 Sale 3/24 1500 $50 $50 Assuming the company uses Weighted Average Cost method, what is the weighted average cost for the inventory at the end of the month? Round to the nearest cent. Weighted Average Cost at the end of the month: $[WAC)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Raptor Candles has the following inventory schedule for its luxury line of candles.
Quantity Unit Cost Sales Price (per unit)
Date
Purchase
3/1
500
$15.00
Purchase
3/6
750
$17.50
Sale
3/10
800
Purchase
3/19
1400 $21.50
Sale
3/24
1500
$50
$50
Assuming the company uses Weighted Average Cost method, what is the weighted average cost for the inventory at
the end of the month? Round to the nearest cent.
Weighted Average Cost at the end of the month: $[WAC]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8d3d8deb-8b5d-4bc6-b1e1-562032e8da26%2F947a1dc9-280b-4d09-b9b2-d0f26bb84d04%2Fhs3j0yi_processed.png&w=3840&q=75)
Transcribed Image Text:Raptor Candles has the following inventory schedule for its luxury line of candles.
Quantity Unit Cost Sales Price (per unit)
Date
Purchase
3/1
500
$15.00
Purchase
3/6
750
$17.50
Sale
3/10
800
Purchase
3/19
1400 $21.50
Sale
3/24
1500
$50
$50
Assuming the company uses Weighted Average Cost method, what is the weighted average cost for the inventory at
the end of the month? Round to the nearest cent.
Weighted Average Cost at the end of the month: $[WAC]
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