Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory system and using
Question:
Assuming a perpetual inventory system and using the weighted average method, determine
(a) The weighted average unit cost after the October 22 purchase,
(b) The cost of goods sold on October 29, and
(c) The inventory on October 31.
Transcribed Image Text:
Inventory 320 units at $10 Oct. 1 180 units 360 units at $12 300 units Sale Purchase 13 22 29 Sale
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 46% (13 reviews)
a Weighted average unit cost 1144 Inventory total cost ...View the full answer
Answered By
Muhammad adeel
I am a professional Process/Mechanical engineer having a vast 7 years experience in process industry as well as in academic studies as a instructor. Also equipped with Nebosh IGC and lead auditor (certified).
Having worked at top notch engineering firms, i possess abilities such as designing process equipment, maintaining data sheets, working on projects, technical biddings, designing PFD and PID's etc.
Having worked as an instructor in different engineering institutes and have been involved in different engineering resrearch projects such as refinery equipment designing, thermodynamics, fluid dynamics, chemistry, rotary equipment etc
I can assure a good job within your budget and time deadline
4.90+
52+ Reviews
60+ Question Solved
Related Book For
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Question Posted:
Students also viewed these Business questions
-
Two independent situations follow: 1. On January 1, 2011, Divac Limited issued $300,000 of 10-year, 9% bonds at par. Interest is payable quarterly on April 1, July 1, October 1, and January 1. 2. On...
-
Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 inventory 300 units @ $8 13 sale 175 units 22 Purchase 375 units @ $10 29 sale 280 units a. Assuming a perpetual inventory...
-
Using the weighted average method of perpetual inventory costing and the information presented in E, compute the cost of materials used and the cost of the July 31 inventory. (Round unit prices to...
-
Each table of values gives several points that lie on a line.(a) What is the x-intercept of the line? The y-intercept?(b) Which equation in choices AD corresponds to the given table of values?(c)...
-
Using the information in E20.16, prepare a worksheet inserting January 1, 2019, balances, and showing December 31, 2019, balances. Prepare the journal entry recording postretirement benefit expense....
-
The tobacco companies have paid billions because of smoking- related illnesses. In particular, Philip Morris, a leading cigarette manufacturer, paid more than $ 3,000,000,000 in settlement payments...
-
Would it be desirable to have zero unemployment?
-
Jansen Company reports the following for its ski department for the year 2015. All of its costs are direct, except as noted. Sales . . . . . . . . . . . . . . . . . . . . .$605,000 Cost of goods...
-
1 0 Presented here are selected transactions for Niska Inc. during August of the current year. Niska uses a perpetual inventory system. It estimates a return rate of 1 2 % , based on past...
-
1. What were the key forms of human, social and organizational capital generated in One Team? 2. What role did HR practices play in supporting these forms of capital? 3. In the future: a. How might...
-
Beginning inventory, purchases, and sales for Item 88-HX are as follows: Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) The cost of goods sold on...
-
The units of an item available for sale during the year were as follows: There are 75 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the...
-
You have been hired to develop group support software. Describe the features you would include in your new GSS software.
-
Which works are copyrightable?
-
Why do businesses use methods of alternative dispute resolution to settle their disputes?
-
Are minors legally bound to every contract that they enter into?
-
Gamma, Inc., a U.S. corporation, makes a side payment to the minister of commerce of another country for a favorable business contract. In the United States, this payment would be considered a....
-
Dilution occurs when a trademark is used, without permission, in a way that diminishes the distinctive quality of the mark. (True/False)
-
The Acme Industries Safety Supervisor wants to determine the factors that predict employees passing the annual required site safety competency training course. Data set: Ch 12 Exercise 10B.sav...
-
What are the before image (BFIM) and after image (AFIM) of a data item? What is the difference between in-place updating and shadowing, with respect to their handling of BFIM and AFIM?
-
A company fabricates a component at a cost of $6.00. A supplier offers to supply the same component for $5.50. Under what circumstances is it reasonable to purchase from the supplier?
-
A company fabricates a component at a cost of $6.00. A supplier offers to supply the same component for $5.50. Under what circumstances is it reasonable to purchase from the supplier?
-
A company fabricates a component at a cost of $6.00. A supplier offers to supply the same component for $5.50. Under what circumstances is it reasonable to purchase from the supplier?
-
Calculate the speed (in m/s) of a 75.0 kg skater on Earth speed at the bottom of a 5.00 m high ramp. Ignore friction. Enter only the number portion of your answer.
-
You stand on top of a 75.0 m tall building and throw a ball off the edge at 32.0 m/s, at an angle of 40.0 above the horizontal. a. How long is the ball in the air before it hits the ground? (5 pts.)
-
While driving down a country road at 20.0 m/s, you must slam on your breaks when you see a deer in the headlights, 638 m ahead. It takes you 3.0 s to react before you can hit the breaks. a. What is...
Study smarter with the SolutionInn App