Question
In: Accounting
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 2 years agoRelated Solutions
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