Question

Show Me How Calculator Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 15,000 units at $60.00 Mar. 18 Sale 12,000 units May 2 Purchase 27,000 units at $62.00 Aug. 9 Sale 22,500 units Oct. 20 Purchase 10,500 units at $64.20 The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of merchandise sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5. Round unit cost to two decimal places, if necessary. Perpetual Inventory Account Weighted Average Cost Flow Method Cost of Merchandise Sold Purchases Total Cost Total Cost Unit Cost Quantity Date Unit Cost Quantity Jan. 1 Mar. 18 May 2 Aug. 9 Previous Next Check My Work de 9/18

Answer 1

Perpetual Inventory Account Weighted Average Cost Flow Method Cost of Merchandise Sold Total Cost Quantity Unit Cost Total Cost Date Purchase Unit Cost Quantity Quantity 15000 Inventory Unit Cost 60.00 60.00 61.80 12000 60.00 720000 3000 30000 27000 62.00 1674000 Jan. 01 Mar. 18 May 02 Aug. 09 Oct. 20 Dec. 31 Total Cost 900000 180000 1854000 463500 113 7600 113 7600 22500 61.80 1390500 64.20 674100 10500 Balances 7500 18000 18000 61.80 63.20 63.20 2110500