erpetual Inventory Using Weighted Average

Beginning inventory, purchases, and sales for WCS12 are as follows:

Oct. 1 Inventory 310 units at $9
13 Sale 170 units
22 Purchase 360 units at $12
29 Sale 200 units
a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places.
$fill in the blank 1
per unit

b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places.
$fill in the blank 2
c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places.

Question

contestada

Respuesta :

ewomazinoade ewomazinoade · Answer 1 · 2022-07-13T21:16:31+02:00

The weighted average unit cost is $10.61.

The cost of goods sold on October 29 is $2,122.39.

The inventory on October 21 is $3138.

The weighted cost of goods sold = [(310 x 9) + ($12 x 360)] / (360 + 310)

(2790 +4320) / 670

7,110 / 670 = $10.61

Cost of the goods sold on October 29 = average unit cost x number of goods sold

$10.61 x 200 = $2,122.39

Inventory on October 21 = ending inventory x average cost

ending inventory = total inventory - total inventory sold

Inventory on October 21 = 300 units x 10.61 = $3,183

To learn more about average weighted cost, please check: https://brainly.com/question/15231142

#SPJ1