Homework Answers
There is no opening inventory balance given hence taken as "0"
Weighted average cost method will calculate weighted average cost per unit as follows
= Total Cost of goods available for sale/ Units available for sale
= (10 x $120 + 20 x $140)/(10+20)
= $133.33
Value of closing stock = units held in closing stock x Weighted average cost per unit
= $133.33 x (10+20-15)
= $2,000
Note :
Here there is no difference whether the client follows periodic or perpetual inventory system.
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