Raptor Books has the following inventory schedule for its Financial Accounting textbooks. Date Quantity Unit...
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Accounting
Raptor Books has the following inventory schedule for its Financial Accounting textbooks. Date Quantity Unit Cost Sale Price Beginning Inventory 2/1/2021 35 $10 Purchase 45 $11 25 $12 2/6/2021 2/12/2021 2/15/2021 2/21/2021 2/28/2021 Purchase Sale Purchase Sale 60 $25 55 $13 40 $25 Assuming the company uses Weighted Average Cost for its inventory cost flow method, what is the weighted average cost of the inventory as of the sale on 2/28/2021? Weighted Average Cost on 2/28: (WAC) $10.00 $11.50 $11.63 $12.06 $14.20 $16.00 $16.77
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