Nature Foods starts a merchandising business on December 1 and enters into the following three inventory...

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Nature Foods starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Nature Foods sells 27 units for $40 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 Required: Nature Foods sells 27 units for $40 each on December 15. Nature Foods uses a perpetual inventory system. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round your per unit costs to 2 decimal places.) Weighted Average - Perpetual: Date December 7 December 14 Average cost December 15 December 21 Average cost Totals # of units Goods purchased 17 units@ $16.00 cost 33 units@ $24.00 cost 27 units@ $29.00 cost Cost per unit Inventory Value # of units sold Cost of Goods Sold Cost per unit Cost of Goods Sold Inventory Balance Cost per unit # of units Inventory Balance Nature Foods starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Nature Foods sells 27 units for $40 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 Required: Nature Foods sells 27 units for $40 each on December 15. Nature Foods uses a perpetual inventory system. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round your per unit costs to 2 decimal places.) Weighted Average - Perpetual: Date December 7 December 14 Average cost December 15 December 21 Average cost Totals # of units Goods purchased 17 units@ $16.00 cost 33 units@ $24.00 cost 27 units@ $29.00 cost Cost per unit Inventory Value # of units sold Cost of Goods Sold Cost per unit Cost of Goods Sold Inventory Balance Cost per unit # of units Inventory Balance

Answer rating: 100% (QA)

To determine the cost assigned to ending inventory and the cost of goods sold using the weighted average method for a perpetual inventory system follo... View the full answer