Ask Question
8 September, 16:30

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 4,000 units at $20 Apr. 19 Sale 2,500 units June 30 Purchase 6,000 units at $24 Sept. 2 Sale 4,500 units Nov. 15 Purchase 1,000 units at $25 The firm uses the weighted average cost method with a perpetual inventory system.

+5
Answers (1)
  1. 8 September, 16:58
    0
    Instructions are listed below.

    Explanation:

    Giving the following information:

    The following units of a particular item were available for sale during the calendar year:

    Jan. 1 Inventory 4,000 units at $20

    Apr. 19 Sale 2,500 units

    June 30 Purchase 6,000 units at $24

    Sept. 2 Sale 4,500 units

    Nov. 15 Purchase 1,000 units at $25

    Units sale = 7,000

    Inventory = 4,000

    Inventory = [ (20 + 24 + 25) / 3]*4,000 = $92,000

    COGS = 2,500*20 + 4,500*22 = $149,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular item were available for sale during ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers