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Homework answers / question archive / Given the following events, what is the per-unit value of ending inventory on November 30 if this company uses a weighted average perpetual inventory system? November 1, 5 units were purchased at $6 per unit November 12, 10 units were purchased at $7

Given the following events, what is the per-unit value of ending inventory on November 30 if this company uses a weighted average perpetual inventory system? November 1, 5 units were purchased at $6 per unit November 12, 10 units were purchased at $7

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Given the following events, what is the per-unit value of ending inventory on November 30 if this company uses a weighted average perpetual inventory system?

November 1, 5 units were purchased at $6 per unit November 12, 10 units were purchased at $7.50 per unit November 14, 7 units were purchased at per $14 unit November 24, 12 units were purchased at per $10 unit

 

a.   $6.00

b.   $7.00

c.    $8.80

d.   $13.00

e.   $21.80

 

 

 

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Answer: c .

Calculation of the per-unit value of ending inventory

November 1: 5 unit * $6 per unit = $ 30 (Purchased)

November 12: 10 unit *7.50= $75 (Purchased)

November 14: 7units *$7 per unit = $49 (Cost of goods sold) ((6+7.5)/2=$7.00)

November 24: 12 unit * $10 = $120 (Purchased)

Weighted -average perpetual inventory balance:

November 1: 5 unit * $6 per unit = $ 30

November 12: 10 unit *7.00= $105  [((6+7.5)/2=$7.00)*(10+5)]

November 14: 8 units *$7 per unit = $56 [(10+5-7)* ((6+7.5)/2=$7.00)]

November 24: 20 unit * $8.8 = $176 [(10*12)+56/(10+5-7+12)] =$8.80

 

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