Question

Ralwins Company had the following balances and transactions during? 2018, from January 1 to December? 31:...

Ralwins Company had the following balances and transactions during? 2018, from January 1 to December? 31:

Beginning Merchandise Inventory

100 units at $84

March 10

Sold 60 units

June 10

Purchased 300 units at $87

October 30

Sold 160 units

What would be reported for ending Merchandise Inventory on the balance sheet at December? 31, 2018 if the perpetual inventory system and the

weightedminus?average

inventory costing method are? used? (Round unit costs to two decimal places and total costs to nearest?dollar.)

A. $3,360

B. $8,400

C. $11,760

D. $15,597



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Homework Answers

Answer #1

WEIGHTED AVERAGE METHOD

No

Qty Purchased

Unit Cost

Total Cost

Qty Sold

Unit cost

Total cost

Inv.Qty

Unit Cost

Total cost

Opening

100

84

8400

Mar 10

60

84

5040

40

84

3360

June 10

300

87

26100

40

84

3360

300

87

26100

Oct 10

160

86.65

13864

180

86.65

15597

180

86.65

15597

Ending Inventory Balance    =       $,15,597

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