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Ch 06 BE.06.01.ALGO BE.06.02.ALGO BE.06.03.ALGO BE.06.04.ALGO BE.06.05.ALGO BE.06.06.ALGO BE.06.07.ALGO BE.06.08.ALGO EX.06.03.ALGO EX.06.04.ALGO EX.06.05.ALGO EX.06.06.ALGO EX.06.07.ALGO EX.06.08...

Ch 06


BE.06.01.ALGO


BE.06.02.ALGO


BE.06.03.ALGO


BE.06.04.ALGO


BE.06.05.ALGO


BE.06.06.ALGO


BE.06.07.ALGO


BE.06.08.ALGO


EX.06.03.ALGO


EX.06.04.ALGO


EX.06.05.ALGO


EX.06.06.ALGO


EX.06.07.ALGO


EX.06.08


EX.06.09


EX.06.10.ALGO


EX.06.11.ALGO


EX.06.12.ALGO


EX.06.13.ALGO


EX.06.20


EX.06.21


EX.06.22


EX.06.23


EX.06.24


EX.06.25


EX.06.26


MAD.06.01


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Perpetual Inventory Using Weighted Average

Beginning inventory, purchases, and sales for WCS12 are as follows:

Oct. 1 Inventory320 units at $1213 Sale150 units22 Purchase330 units at $1429 Sale200 units

a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places.
$fill in the blank 1per unit

b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places.
$fill in the blank 2

c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places.
$fill in the blank 3

Business   Accounting   
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Answer #1

Answer.

a) 13.32

b) (2664)

c) 300 units at the weighted avg rate of 13.32

Date Particulars Quantity Rate Total
1-Oct Opening Inventory 320 12           3,840
13-Oct Cost of Goods Sold -150 12         (1,800)
13-Oct Inventory Left after Sales 170 12           2,040
22-Oct Purchases 330 14           4,620
23-Oct Total Inventory after Purchases 500 13.32           6,660
29-Oct Cost of Goods Sold -200 13.32         (2,664)
31-Oct Closing Inventory 300 13.32           3,996

Weighted Average Rate is calculated by Total amount/ Total Quantity.

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