Wilkenson Inc. has the following information available for November: Date Units Cost per Unit Total Cost Nov 1 Beginning Inventory 70 $50 $3500 Nov 5 Purchase 30 $60 1800 Nov 14 Sale (60) Nov 25 Purchase 60 $52 3120 Nov 30 Sale (80) Total 20 $162 8420 Compute the cost of goods sold and the cost of ending inventory, respectively, assuming the perpetual weighted-average method. Description Perpetual-Weighted Average COGS Cost of Ending Inventory
Wilkenson Inc. has the following information available for November: Date Units Cost per Unit Total Cost Nov 1 Beginning Inventory 70 $50 $3500 Nov 5 Purchase 30 $60 1800 Nov 14 Sale (60) Nov 25 Purchase 60 $52 3120 Nov 30 Sale (80) Total 20 $162 8420 Compute the cost of goods sold and the cost of ending inventory, respectively, assuming the perpetual weighted-average method. Description Perpetual-Weighted Average COGS Cost of Ending Inventory
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 1PEA: The following three identical units of Item BZ1810 are purchased during November: Assume that one...
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Wilkenson Inc. has the following information available for November:
Date | Units | Cost per Unit | Total Cost | |
Nov 1 | Beginning Inventory | 70 | $50 | $3500 |
Nov 5 | Purchase | 30 | $60 | 1800 |
Nov 14 | Sale | (60) | ||
Nov 25 | Purchase | 60 | $52 | 3120 |
Nov 30 | Sale | (80) | ||
Total | 20 | $162 | 8420 |
Compute the cost of goods sold and the cost of ending inventory, respectively, assuming the perpetual weighted-average method.
Description | Perpetual-Weighted Average |
COGS | |
Cost of Ending Inventory |
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