Weighted Average Cost Mettiod >with Perpetual Inventory The beginning inventory

Question

Weighted Average Cost Mettiod >with Perpetual Inventory The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are as follows: Number Date Transaction of Units Per Unit Total Apr. 3 Inventory 25 $1,200 $30,000 75 40 30 60 50 20 80 40 25 35 44 2,250 8 Purchase 11 Sale 30 Sale 1,240 2,000 0,000 2,000 60,000 1,260 75,600 2,000 100,000 2,000 1,260 100,800 2,250 90,000 2,250 56,250 1,264 93,000 May 8 Purchase 0 Sale 1% Sale 28 Purchase 40,000 June $ Sale 16 Sale 21 Purchase 28 Sale 44,240 99,000

Explanation / Answer

Weighted average cost method :

Cost of goods sold = $310854

Ending inventory = $32786

Purchases Cost of goods sold Inventory Date Quantity Unit cost Total cost Quantity Unit cost Total cost Quantity Unit cost Total cost Apr 3 25 1200 30000 Apr 8 75 1240 93000 100 1230 123000 Apr 11 40 1230 49200 60 1230 73800 Apr 30 30 1230 36900 30 1230 36900 May 8 60 1260 75600 90 1250 112500 May 10 50 1250 62500 40 1250 50000 May 19 20 1250 25000 20 1250 25000 May 28 80 1260 100800 100 1258 125800 June 5 40 1258 50320 60 1258 75480 June 16 25 1258 31450 35 1258 44030 June 21 35 1264 44240 70 1261 88270 June 28 44 1261 55484 26 1261 32786 Total 310854 32786

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