During the month of August, Roundhouse Company purchased and sold merchandise on account as shown in the

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During the month of August, Roundhouse Company purchased and sold merchandise on account as shown in the table below. Roundhouse uses the perpetual inventory system and the moving weighted average cost method for valuing inventory. Date Units $/Unit Total Aug 1 Opening inventory 40 $ 30 $ 1,200 Aug 3 Purchase 60 $ 35 $ 2,100 Aug 10 Sale 90 $ 60 $ 5,400 Aug 22 Purchase 90 $ 40 $ 3,600 Aug 24 Sale 70 $ 70 $ 4,900

Required: Using the Moving Weighted Average method calculate the dollar value of: Cost of goods sold $ Ending inventory $

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Accounting Volume 1

ISBN: 978-0132690096

9th Canadian edition

Authors: Charles T. Horngren, Walter T. Harrison, Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood

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Posted Date: Mar 06, 2024 06:23 AM

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During the month of August, Roundhouse Company purchased and sold merchandise on account as shown in the

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Accounting Volume 1

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