The company uses the perpetual inventory method and started the month of November with 500 units of inventory at a cost of $3 each. Purchases November 5, 500 units at $5 each November 18, 500 units at $6 each November 29, 500 units at $9 each Sales November 12, 400 units sold at $14 each November 25, 900 units sold at $14 each 1. Use the following format to set up this inventory costing problem, as shown in Video #2. Inventory Date Cost per Unit Units Total Cost Date Units Total Cost Beg Balance Units Cost Beginning Balance + Purchases Goods Available for Sale - Sold Ending Balance 2. Use the moving weighted average method to calculate cost of goods sold and ending inventory. 3. Calculate the company's gross margin based on using the average cost method.

The company uses the perpetual inventory method and started the month of November with 500 units of inventory at a cost of $3 each. Purchases November 5, 500 units at $5 each November 18, 500 units at $6 each November 29, 500 units at $9 each Sales November 12, 400 units sold at $14 each November 25, 900 units sold at $14 each 1. Use the following format to set up this inventory costing problem, as shown in Video #2. Inventory Date Cost per Unit Units Total Cost Date Units Total Cost Beg Balance Units Cost Beginning Balance + Purchases Goods Available for Sale - Sold Ending Balance 2. Use the moving weighted average method to calculate cost of goods sold and ending inventory. 3. Calculate the company's gross margin based on using the average cost method.

Name: Problem 9-2 Part BThe company uses the perpetual inventory method and
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Description: Problem 9-2 Part BThe company uses the perpetual inventory method and started the month of November with 500 unitsof inventory at a cost of $3 each.PurchasesNovember 5, 500 units at $5 eachNovember 18, 500 units at $6 eachNovember 29, 500 units at $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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