Question: Stannard PC Plus, Inc. repairs & sells new computers. The ending balance in the inventory account on September 30, 2012 was 9 units at
Stannard PC Plus, Inc. repairs & sells new computers. The ending balance in the inventory account on September 30, 2012 was 9 units at $260 per unit. The company uses a perpetual inventory system and has the following transactions during October 2012 Date Description Quantity Cost Per Oct 4 Purchase 8 $200 Oct 11 Sold 9 Oct 17 Purchase 42 $275 Oct 22 Sold 3 Oct 26 Purchase 18 $255 Oct 30 Sold 53 Create a perpetual inventory record assuming Weighted Average inventory costing. Do not round the unit cost. Do round total costs to the nearest cent on each transaction. Purchases Cost of Goods Sold Dates Quantity Oct 1 Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Oct 4 Oct 11 Oct 17 Oct 22
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