People Window Help IOnline teact x entMain do?invokersa Ch. 6 Show Me How Calcul

Question

People Window Help IOnline teact x entMain do?invokersa Ch. 6 Show Me How Calculator Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular an. 1 Inventory Mar. 18 Sale May 2 Purchase Aug. 9 Sale Oct. 20 Purchase item were available for sale during the calendar year: 10,000 units at $75.00 8,000 unas 18,000 units at $77.50 15,000 units 7,000 units at $80.25 uses the weighted average cost method with a perpetual inventory system, Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5. Round unit cost to two decimal places, if necessary. Schedule of Cost of Goods Sold Weighted Average Cost Flow Method Cest of Goods Sold Date Quantity Unit Cost Quantity Quantity Jan. 1 Mar. 18 May 2 Aug. 9 Oct. 20 Dec. 31 Balances PreviousNex Check My Work mail Instructor Save and Exit Submit for Grading gnment Score: 0.0%

Explanation / Answer

Schedule of cost of goods sold Weighted average cost flow method Purchases Cost of Goods sold Inventory / Balance Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost 1-Jan 10000 75 750000 18-Mar 8000 75 600000 2000 75 150000 2-May 18000 77.5 1395000 20000 77.25 1545000 9-Aug 15000 77.25 1158750 5000 77.25 386250 29-Oct 7000 80.25 561750 12000 79 948000 31-Dec 12000 79 948000 *Ending inventory = 948000 *Cost of goods sold: 18-Mar 600000 9-Aug 1158750 Total 1758750 *In weighted average perpetual inventory system a weighted average rate is calculated by dividing quantity in total cost.

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

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