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Swifty Distribution markets CDs of numerous performing artists. At the beginning of March, Swifty had in...

Swifty Distribution markets CDs of numerous performing artists. At the beginning of March, Swifty had in beginning inventory 3,900 CDs with a unit cost of $7. During March, Swifty made the following purchases of CDs. March 5 4,875 @ $8 March 21 7,850 @ $10 March 13 6,825 @ $9 March 26 5,800 @ $11 During March 21,000 units were sold. Swifty uses a periodic inventory system. Calculate weighted-average cost per unit. (Round answer to 3 decimal places, e.g. 2.257.)

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Answer #1
Swift Distribution
Weighted average Method
Date Units Cost per unit Total cost
Beg 3900 7 27300
Mar-05 4875 8 39000
Mar-13 6825 9 61425
Mar-21 7850 10 78500
Mar-26 5800 11 63800
29250 9.232 270025
Sold 21000 COGS 193872 (21000*9.232)
Closing Stock 8250 76153
Closing stock Units Cost per unit Total costs
8250 9.232 76153

Working Note :

Weighted average cost = Total cost / Total number of units

Weighted average cost = 270025 / 29250 = 9.232 ( Rounded off )

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