Weighted average cost flow method under perpetual inventory system The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 4,000 units at $50 Apr. 19 Sale 2,500 units June 30 Sept. 2 Nov. 15 Purchase 4,500 units at $54 Sale 5,000 units Purchase 2,000 units at $56 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. Weighted Average Cost Flow Method Date Purchases Quantity Purchases Unit Cost Purchases Total Cost Cost of Goods Sold Quantity Cost of Goods Sold Unit Cost Cost of Goods Sold Inventory Total Cost Quantity Inventory Unit Cost Inventory Total Cost Jan. 1 Apr. 19 June 30 Sept. 2 Nov. 15 DO Dec. 31 Balances | | |
Weighted average cost flow method under perpetual inventory system The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 4,000 units at $50 Apr. 19 Sale 2,500 units June 30 Sept. 2 Nov. 15 Purchase 4,500 units at $54 Sale 5,000 units Purchase 2,000 units at $56 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. Weighted Average Cost Flow Method Date Purchases Quantity Purchases Unit Cost Purchases Total Cost Cost of Goods Sold Quantity Cost of Goods Sold Unit Cost Cost of Goods Sold Inventory Total Cost Quantity Inventory Unit Cost Inventory Total Cost Jan. 1 Apr. 19 June 30 Sept. 2 Nov. 15 DO Dec. 31 Balances | | |
Chapter10: Inventory
Section: Chapter Questions
Problem 10EB: Calculate the cost of goods sold dollar value for B67 Company for the month, considering the...
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
Transcribed Image Text:Weighted average cost flow method under perpetual inventory system
The following units of a particular item were available for sale during the calendar year:
Jan. 1
Inventory
4,000 units at $50
Apr. 19
Sale
2,500 units
June 30
Sept. 2
Nov. 15
Purchase
4,500 units at $54
Sale
5,000 units
Purchase
2,000 units at $56
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.
Weighted Average Cost Flow Method
Date
Purchases
Quantity
Purchases
Unit Cost
Purchases
Total Cost
Cost of Goods Sold
Quantity
Cost of Goods Sold
Unit Cost
Cost of Goods Sold
Inventory
Total Cost
Quantity
Inventory
Unit Cost
Inventory
Total Cost
Jan. 1
Apr. 19
June 30
Sept. 2
Nov. 15
DO
Dec. 31
Balances
| | |
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