Wildhorse Inc. uses a periodic Inventory system. Its records show the following for the month of May, in which 76 units were sold. Explanation Units Unit Cost Inventory 36 $9 Purchase Purchase Total Date May 1 15 24 24 40 100 10 Weighted average unit cost S 11 Total Cost $324 240 440 $1,004 Calculate the weighted average unit cost. (Round answer to 3 decimal places, eg. 5.125.)
Wildhorse Inc. uses a periodic Inventory system. Its records show the following for the month of May, in which 76 units were sold. Explanation Units Unit Cost Inventory 36 $9 Purchase Purchase Total Date May 1 15 24 24 40 100 10 Weighted average unit cost S 11 Total Cost $324 240 440 $1,004 Calculate the weighted average unit cost. (Round answer to 3 decimal places, eg. 5.125.)
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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![Wildhorse Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 76 units were sold.
Date
May 1
15
24
Explanation Units Unit Cost
Inventory
Purchase
Purchase
Total
e Textbook and Media
36
24
40
100
Ending inventory at May 31
e Textbook and Medial
$9
10
Calculate the weighted average unit cost. (Round answer to 3 decimal places, eg. 5.125.)
Weighted average unit cost S
$
11
Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to O decimal places, eg
125)
Total Cost
$324
240
440
$1,004
FIFO
$
LIFO
AVERAGE-COST](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdb44177a-f132-42e2-8071-3329a164275b%2F4fb0f1a9-8715-4d9e-9e4c-25fcacbeb282%2Fmz71di9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Wildhorse Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 76 units were sold.
Date
May 1
15
24
Explanation Units Unit Cost
Inventory
Purchase
Purchase
Total
e Textbook and Media
36
24
40
100
Ending inventory at May 31
e Textbook and Medial
$9
10
Calculate the weighted average unit cost. (Round answer to 3 decimal places, eg. 5.125.)
Weighted average unit cost S
$
11
Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to O decimal places, eg
125)
Total Cost
$324
240
440
$1,004
FIFO
$
LIFO
AVERAGE-COST
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