✔Total cost of goods sold, $791,600 SHOW ME HOW EX 6-8 Weighted average cost flow method under perpetual inventory system Obj. 3 The following units of a particular item were available for sale during the calendar year: Jan. 1 Mar. 18 May 2 Aug. 9 Oct. 20 Inventory Sale Purchase Sale Purchase 9,000 units at $50.00 7,000 units 8,000 units at $56.50 8,000 units 4,000 units at $60.00 The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5.

✔Total cost of goods sold, $791,600 SHOW ME HOW EX 6-8 Weighted average cost flow method under perpetual inventory system Obj. 3 The following units of a particular item were available for sale during the calendar year: Jan. 1 Mar. 18 May 2 Aug. 9 Oct. 20 Inventory Sale Purchase Sale Purchase 9,000 units at $50.00 7,000 units 8,000 units at $56.50 8,000 units 4,000 units at $60.00 The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5.

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Description: ✔Total cost of goodssold, $791,600SHOWME HOWEX 6-8 Weighted average cost flow method under perpetual inventory system Obj. 3The following units of a particular item were available for sale during the calendar year:Jan. 1Mar. 18May 2Aug. 9Oct. 20Inve

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter6: Inventories

Section: Chapter Questions

Problem 4BE: Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory...

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.

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✔Total cost of goods
sold, $791,600
SHOW
ME HOW
EX 6-8 Weighted average cost flow method under perpetual inventory system Obj. 3
The following units of a particular item were available for sale during the calendar year:
Jan. 1
Mar. 18
May 2
Aug. 9
Oct. 20
Inventory
Sale
Purchase
Sale
Purchase
9,000 units at $50.00
7,000 units
8,000 units at $56.50
8,000 units
4,000 units at $60.00
The firm uses the weighted average cost method with a perpetual inventory system.
Determine the cost of goods sold for each sale and the inventory balance after each sale.
Present the data in the form illustrated in Exhibit 5.

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