Beginning inventory, purchases, and sales for Meta-B1 are as follows: July 1 ............... Inventory ............... 100 units
Question:
July 1 ............... Inventory ............... 100 units at $400
.... 12 ............... Sale ................................. 70 units
.... 23 ............... Purchase ................ 120 units at $450
.... 26 ............... Sale ............................... 110 units
Assuming a perpetual inventory system and using the weighted average method, determine
(a) The weighted average unit cost after the July 23 purchase,
(b) The cost of the merchandise sold on July 26, and
(c) The inventory on July 31?
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a Weighted average unit cost 440 Inventory total cost after ...View the full answer
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Related Book For 
Accounting
ISBN: 978-1337899451
27th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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