FINANCIAL ACCOUNTING Weygandt, Financial Accounting, 9e Assignment Gradebook ORI

Question

FINANCIAL ACCOUNTING Weygandt, Financial Accounting, 9e Assignment Gradebook ORION Downloadable eTextbook dy & Practice n Assignment CALCULATOR FULL SCREEN PRINTER VER OURCES Exercise 6-8 (Part Level Submission) Kaleta Company reports the following for the month of June. Units Unit Cost Total Cost 596 1,192 894 298 $2,980 9,536 9,834 $5 June 1 Inventory 12 Purchase 23 Purchase 30 Inventory (Part sion (Part sion) (Part sion) (a1) Your answer is correct. Calulate Weighted Average Unit Cost. (Round answer to 2 decimal places, e.g. 15.25.) ts by Study Weighted Average Unit Cost 8.33 SHOW SOLUTION LINK TO TEXT Attempts: 4 of 5 used (a2) 2000-2012 3ohn Wiley & Sons, Inc, All Rights Reserved. A Division of 2ohn Wilsy & Sons.Ins. 3 esc

Explanation / Answer

WORKIING NOTE:  

Calculation of Ending Inventory using Weighted Average Cost Ending inventory = Ending inventory units * Weighted Average unit cost 298 * 8.33 $2482 Calculation of Cost of Goods Sold using Weighted Average Cost Cost of Goods sold = (Total units available for sale - Ending inventory units) * Weighted average unit cost (2682 - 298) * 8.33 $19859

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