Putter s Choice carries an inventory of putters and other golf
Putter’s Choice carries an inventory of putters and other golf clubs. The sales price of each putter is $119. Company records indicate the following for a particular line of Putters Choice putters:
Requirements
1. Prepare Putter’s Choice’s perpetual inventory record for the putters assuming Putter’s Choice uses the weighted-average inventory costing method. Round weighted-average cost per unit to the nearest cent and all other amounts to the nearest dollar. Then identify the cost of ending inventory and cost of goods sold for the month.
2. Journalize Putter’s Choice’s inventory transactions using the weighted-average inventory costing method.
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