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eBook Show Me How Calculator Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct
eBook Show Me How Calculator Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 300 units at $8 Inventory Sale 13 175 units 22 Purchase 375 units at $10 29 Sale 280 units a. Assuming a perpetual inventory system and using the weighted average cost method, determine the weighted average unit cos after the October 22 purchase. Round your answer to two decimal places. per unit b. Assuming a perpetual inventory system and using the weighted average of thod, determine the cost of goods sold on October 29 Round your "average unit cost to two decimal places. c. Assuming a perpetual Inventory system and using the weighted average method, determine the inventory on October 31. Round your average unit cost to two decimal places. Cou G
Expert Solution
ol - The answer to the above problem is as follows -
(A) The weighted average
unit cost after the october 22 purchase = (125 * $8 + 375 * $10)/375 + 125
= ($1,000 + $3,750)/500
= $4,750/500 = $9.5 per unit cost
(b) Cost of goods sold on october 29 is = 280 units * $9.5
= $2,660
(C) Inventory on october 31 = 220 units * $9.5
= $2,090,
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