Question: Addison, Inc. uses a perpetual inventory system. Below is information about one inventory item for the month of September. Sep. 1 Inventory 20 units

Addison, Inc. uses a perpetual inventory system. Below is information about one

Addison, Inc. uses a perpetual inventory system. Below is information about one inventory item for the month of September. Sep. 1 Inventory 20 units at $20 4 Sold 10 units 10 Purchased 30 units at $25 17 Sold 20 units 30 Purchased 10 units at $30 Use the information in the table to answer this question.If Addison uses the weighted average cost method, what is the inventory balance at the end of September? a. $1,500.00 O a. O b. $1,187.50 c. $1,375.00 O c. Od. $1,150.00

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

The partnership agreement of the G&P general partnership states that Gary will receive a guaranteed payment of $13,000, and that Gary and Prudence will share the remaining profits or losses in a...

Describe various methods of payments for international trade. Give some examples. please explain thoroughly.

H 2 Instructions: 3 You are the controller at Star Wars, Inc., a wholesale distributor of light sabers and other interstellar weaponry. The corporation 4 was founded in galaxy far, far away a long...

I'm in serious need of help in my accounting class (acc205) . I'm falling behind and I need help with this weeks assignment. for week three for the may-june month . can someone please help me ....

#23 Below is the data for Sanford Industries as of December 31st. Commodity Inventory Quantity Cost per Unit Market Value per Unit Size 4 9 $17 $19 Size 5 10 17 14 Size 6 14 20 22 Size 7 12 13 15 Use...

QUESTION 11 Addison, Inc. uses a perpetual inventory system. Below is information about one inventory item for the month of September. Use this information to answer the questions that follow. Sep. 1...

Addison, Inc. uses a perpetual inventory system. Below is information about one inventory item for the month of September. Sep. 1 Inventory 4 Sold 10 Purchased 17 Sold 30 Purchased 20 units at $20 10...

The following lots of Commodity Z were available for sale during the year. 10 units at $50 Beginning inventory 15 units at $54 First purchase Second purchase 53 units at $58 Third purchase 15 units...

Addison, Inc. uses a perpetual inventory system. Below is information about one inventory item for the month of September. Use this information to answer the question that follow. Sep. 1 Inventory 4...

A sales invoice included the following information: merchandise price, $3,100; terms 1/10, n/eom; FOB shipping point with prepaid freight of $447 added to the invoice. Assuming that a credit for...

The inventory data for an item for November are: Nov. 1 Inventory 16 units at $23 9 units 4 Sold 10 Purchased 35 units at $19 17 Sold 21 units 22 units at $22 30 Purchased Using a perpetual system,...

Show that, if the wait() and signal() semaphore operations are not executed atomically, then mutual exclusion may be violated.

Again consider the Consolidated Power waste water situation. Remember that the power plant will be shut down and corrective action will be taken on the cooling system if the null hypothesis H0: 60...

How do employers try to counter the use of a micro bargaining unit strategy used by unions to gain membership? a . by arguing there is a larger community of interest b . by increasing demands for...

What is meant by the term neoclassical counterrevolution? What are its principal arguments, and how valid do you think they are? Explain your answer.

After the Adjusted Trial Balance columns of a work sheet have been totaled, which account balances are extended to the Income Statement columns, the Statement of Retained Earnings columns, and the...

Construct the X(mod 5) table for modular arithmetic. Why is (Zs, X(5) not a group?

Let (G,*) be an arbitrary group. Prove that any element of this group has exactly one inverse. [Hint: assume x has two inverses y1, y2 and consider associativity for y1 *x * y2 ]

Prove that if a, = b, (mod m) and az = b2(mod m) then a1 + az = b + b2 (mod m)

Determine if the overhead allocated to the product relates to a single plantwide overhead rate method, multiple production department factory overhead rate method, or activity-based costing...

Q 19.1. What are the two important dates when it comes to dividends?

Q 19.4. Could a firm undertaking an open-market repurchase program be accused of manipulating its stock price?

Q 19.5. In a perfect market, if a normal investor cannot participate in a share repurchase program, would she be better off with a dividend payout than with a share repurchase?