rse.com/platform/mod/quiz/attempt.php?attempt 16857428page 37 enu McRay &Company

Question

rse.com/platform/mod/quiz/attempt.php?attempt 16857428page 37 enu McRay &Company; experienced tne Tolowing events in Ma Unit Cost Total Cost $2,500 Event Units Date Mar. 1 Purchased inventory 100 Mar. 3 Sold inventory Mar. 15 Purchased inventory 100$28 Mar. 20 Sold inventory $25 60 40 Assume the perpetual inventory system is used. Use the weighted-average inventory costing method to calculate the company's cost of goods sold and ending inventory as of March 31 Round weighted-average cost per unit to two decimal places. Use rounded answer for subsequent calculations. Round all other answers to the nearest dollar March 3 Cost of goods sold March 20 Weighted-average cost per unit s Cost of goods sold March 31 Total cost of goods sold Ending inventory

Explanation / Answer

Cost of goods sold and Ending Inventory as of March 31 is:

Weighted Average -Perpetual Date Goods Purchased Cost of goods sold Ending Inventory Units @ Cost per unit Cost of purchase Units sold @ Cost per unit Cost of goods sold Units @ Cost per unit Ending balance Mar-01 100 25 2,500 100 25.00 2,500 Balance 100 2,500 Mar-03 60 25.00 1,500 40 25.00 1,000 Balance 40 25.00 1,000 Mar-15 100 28 2,800 40 25.00 1,000 100 28.00 2,800 Balance 140 27.14 3,800 Mar-20 40 27.14 1,086 100 27.14 2,714 Balance 100 27.14 2,714 Total 200 5,300 100 2,586 100 2,714

Related Questions

Navigate

• Browse (All)
• Browse R
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.