Having trouble figuring what to do for weighted average, thank you in advance. DateUnits Acquired at Cost200 units @ $ 12.50 =ActivitiesUnits sold at Retail$ 2,500January 1January 10January 20January 25January 30Beginning inventorySales$ 21.50160 units130 units @ $ 11.50 =PurchaseSales1,495140 units@$ 21.50300 units$ 11.00 =3,300$ 7,295PurchaseTotals630 units300 unitsExercise 5-3 (Algo) Perpetual: Inventory costing methods LO P1Required:1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification.2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average.3. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO.4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO.Complete this question by entering your answers in the tabs below.WeightedAverageSpecific IdFIFOLIFODetermine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal plaWeighted Average - Perpetual:Goods PurchasedCost of Goods SoldInventory BalanceDateCost per | # of unitsunitCost perunitCost of Goods# of units# of unitsCost per unitInventory BalancesoldSoldJanuary 1200 at$12.50 =$2,500.00January 10January 20Average cost January 20January 25January 30Totals

Under weighted average cost method using periodic inventory system, value of ending inventory and…

Units sold at Retail Units Acquired at Cost 200 units @ $ 12.50 = Date Activities $ 2,500 January 1 January 10 January 20 January 25 January 30 Beginning inventory Sales Purchase Sales Purchase 160 units @ $ 21.50 130 units @ $ 11.50 = 1,495 140 units @ $ 21.50 300 units @ $ 11.00 = 3,300 $ 7,295 Totals 630 units 300 units kercise 5-3 (Algo) Perpetual: Inventory costing methods LO P1

Units sold at Retail Units Acquired at Cost 200 units @ $ 12.50 = Date Activities $ 2,500 January 1 January 10 January 20 January 25 January 30 Beginning inventory Sales Purchase Sales Purchase 160 units @ $ 21.50 130 units @ $ 11.50 = 1,495 140 units @ $ 21.50 300 units @ $ 11.00 = 3,300 $ 7,295 Totals 630 units 300 units kercise 5-3 (Algo) Perpetual: Inventory costing methods LO P1

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

TRUE OR FALSE
Q36 Name the approach where the nature of the social reports create problems in measurement and quantification. a. Integral welfare theoretical approach b. None of these are correct c. Multi-dimensional approach d. Net contribution approach
Which of the following method annual bad debt expense best achieved the matching concept
This solution seems to be wrong. I also do not see where you got your numbers for the percentage return. Please continue to assist me.
QUESTION 1.The approach by Borjas (2003) on evaluating the effects on immigration ignores:(a) Cross-wage effects.(b) Real-wage effects.(c) Efficiency-wage effects.(d) Own-wage effects. Explain why.
Can you have a negative gross profit and if yes, explain why.
The results in using ratio analysis may be distorted if _? a. There is inflation. b. The data used are different in the way it was developed. c. The financial statements are not audited. d. All of the above.
please don't use long sentences. make it in simple
what is not a factor in producing earning forecasts?
Outline any problems you are aware of associated with the discounting of future costs and benefits in Cost Benefit Analysis.
Suppose that Target uses FIFO costing method but decided to change to the LIFOmethod. What are the steps Target would take to account for and report the change?