Question: please help and explain how you get EVERYTHING LOL thanks Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular
Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 4,000 units at $40 Ape 19 Sale 2,500 units June 30 Purchase 4,500 units at $44 Sept. 2 Sale 5,000 units Nov 15 Purchase 2,000 units at $46 The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5. Schedule of Cost of Goods Sold Weighted Average Cost Flow Method Cost of Goods Sold Purchases Unit Cost Date Quantity Inventory Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity 4,000 Total Cost 160,000 40 100,000 40 4,500 44 198,000 44 X 220,000 44 X 2,000 46 92,000 46 X 320,000 X 46 X art. 1 Apr 19 June 30 Sept. 2 Now. 15 Dec. 31 Balances 2,500 5,000 40 44 X
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
