Marquis Company uses a weighted-average perpetual inventory system. August 2, 22 units were purchased at $3...
Marquis Company uses a weighted-average perpetual inventory system.
| August 2, | 22 units were purchased at $3 per unit. |
| August 18, | 27 units were purchased at $5 per unit. |
| August 29, | 24 units were sold. |
What is the amount of the cost of goods sold for this sale?
Homework Answers
Solution,
22 units * $3per unit = $66
27 units * $5 per unit = $135
Weighted average cost pr unit = (66+135)/49 = $4.102 per unit
Therefore, Cost of goods sold = $4.102 * 24 = $98.449
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Marquis Company uses a weighted-average perpetual inventory
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