Question

Rewards ACCESS-Login Page BC Bookstone elook Show Me How Calculator Print Rem Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular tem were available for sale during the calendar year Jan. 1 Inventory 30,000 units at $30.00 Mar 18 Sale 24,000 units May 2 Purchase 54,000 unts at $31.00 Aug. 9 Sale 45,000 units Oct. 20 Purchase 21,000 units at $32.10 The fiem uses the weighted average cest method with a perpetual inventory system. Detemine the cost of merchandse sold for each sale and the inventory balance after each sale. Present the data in the form ustrated in Eshibit twe decimal places, Round unt cost to necessary Schedsle of Cost of Herchandise Sold Welghted Average Cost Fhow Hethod Purchases Cost of Herchandise Sold Ieventory Date Quantity Unit Cost Total Cost Qeantity Unit Cost Total Cost tnit Cost Quantity Total Cant Jan. 1 Mar. 18 May 2 Aug. 9 Oct. 20 1 Dec. 31 Balances

Answer 1

Requirement Schedule of Cost of Merchandise sold Weighted Average cost flow method Purchases Cost of goods sold Inventory Date Quantity Total cost Quantity unit cost Total cost total cost Quantity unit cost unit cost 30.00 $ Jan-01 30000 900,000.00 24000 $30.00 $ 720,000.00 6000 $ 30.00 $ Mar-18 180,000.00 31.00 $1,674,000.00 6000 $ 30.00 $ 180,000.00 54000 31.00 $1,674,000.00 60000 $ 30.90 $1,854, 000.00 54000 $ Мay-02 45000 $30.90 $1,390,500.00 15000 $30.90 $ Aug-09 463,500.00 21000 $ $ 15000 $30.90 $ 20-Oct 32.10 674,100.00 463,500.00 21000 32.10 $ 674,100.00 36000 31.60 $ 1,137,600 $ 36000 $31.60 $1,137,600.00 2,110,500 Dec-31 Balances