70.2K

Verified Solution

Link Copied!

eBook Calculator Print Item Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 4,000 units at $20 Apr. 19 Sale 2,500 units June 30 Purchase 6,000 units at $24 Sept. 2 Sale 4,500 units Nov. 15 Purchase 1,000 units at $25 The firm 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 Purchases Cost of Goods Sold Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Jan. 1 Apt. 19 June 30 Sept. 2 Now is Check My Work more Check My Work uses remaining Previous Next 12:23 PM 10/21/2020 The following units of a particular item were available for sale during the calendar year: Apr. 19 Jan. 1 Inventory 4,000 units at $20 Sale 2,500 units June 30 Purchase 6,000 units at $24 Sept. 2 Sale 4,500 units Nov. 15 Purchase 1,000 units at $25 The firm 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 S. Round unit cost to two decimal places, if necessary. Schedule of cost of Goods Sold Weighted Average Cost Flow Method Purchases Cost of Goods Sold Date Quantity Unit Cost otal Cost Quantity Unit Cost Total Cost Quantity Jan. 1

Answer & Explanation Solved by verified expert

See Answer