Jammer Company uses a weighted average perpetual inventory system and reports the following: August 2 Purchase...

Jammer Company uses a weighted average perpetual inventory system and reports the following:


August 2	Purchase	18 units at $15.50 per unit.
August 18	Purchase	20 units at $14.00 per unit.
August 29	Sale	36 units.
August 31	Purchase	23 units at $18.50 per unit.

What is the per-unit value of ending inventory on August 31? (Round your per unit answers to 2 decimal places.)

Solutions

Expert Solution

Date	Transaction	units	Rate	Total Amount
2-Aug	Purchase	18	15.50	279.00
18-Aug	Purchase	20	14.00	280.00
	Total	38	14.71	559.00
29-Aug	Sale	-36	14.71	(529.58)
	Balance (Total - sale)	2	14.71	29.42
31-Aug	Purchase	23	18.50	425.50
	Total outstanding as on Aug 31	25	18.20	454.92

Ans	Per unit value of inventory as on August 31 = 18.20

ekkarill92 answered 1 year ago

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