Question

Compute ending merchandise inventory and cost of goods sold for Cambridge using the weighted-average inventory costing method.
The periodic inventory records of Cambridge Prosthetics indicate the following for the month of July:
Jul. 1 Beginning merchandise inventory ..... 18 units @ $ 55 each
8 Purchase .................. 15 units @ $ 60 each
15 Purchase .................. 12 units @ $ 61 each
26 Purchase 1.................. 1 units @ $ 62 each
At July 31, Cambridge counts nine units of merchandise inventory on hand.


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  • CreatedJune 12, 2015
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