Question: Hint: We use L 2 as the unit cost because the amount in L 2 is the starting weighted - average cost. iii. In K

Hint: We use L2 as the unit cost because the amount in L2 is the starting weighted-average cost.
iii. In K 3, the updated inventory cost =K2+I3-J3.
d. Weighted Average Cost in L3= Inventory Total Cost/Units on hand.
e. Find the invehtory total cost and weighted average cost for the month, i.e., all of the records of data. Enter values for the next eight r below. Do not round intermediate calculations. Round your answers to the nearest cent.
\table[[Date,Purchase/Sale,,Total Cost,Average Cost],[1-Oct,Purchase,$,x,$,X],[1-Oct,Sale,$,X,,X],[3-Oct,Sale,$,x,!,
Hint: We use L 2 as the unit cost because the

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!