Question

Bramble Inc. is a retailer operating in British Columbia. Bramble uses the perpetual inventory method. All sales returns from customers result in the goods being returned to inventory; the inventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Bramble Inc. for the month of January 2020.

Date			Description		Quantity			Unit Cost or Selling Price
January	1		Beginning inventory		100			$21
January	5		Purchase		148			24
January	8		Sale		115			36
January	10		Sale return		10			36
January	15		Purchase		55			26
January	16		Purchase return		5			26
January	20		Sale		93			41
January	25		Purchase		26			28

Calculate the Moving-average cost per unit at January 1, 5, 8, 10, 15, 16, 20, & 25. (Round answers to 3 decimal places, e.g. 5.251.)

		Moving-Average Cost per unit
January 1		$
January 5		$
January 8		$
January 10		$
January 15		$
January 16		$
January 20		$
January 25		$

Answer 1

Moving Method
	Purchases	Sales	Ending Inventory	Workings
DATE	units	Cost/Unit	Total	units	Cost/Unit	Total	units	Cost/Unit	Total
Beginning Inventory							100	$      21.00	$ 2,100.00	[100 units @ $21]=$2,100
January 05	148	$    24.00	$ 3,552.00				248	$      22.79	$ 5,652.00	[$2,100+5,652]/[100+148]=$22.79
January 08				115	$      22.79	$ 2,620.89	133	$      22.79	$ 3,031.11	[$5,652-2,620.89]/[248-115]=$22.79
January 10				-10	$      22.79	$   -227.90	143	$      22.79	3259.02	[$3,031.11-[-227.90]]/[133-[-10]]=$22.79
January 15	55	$    26.00	$ 1,430.00				198	$      23.68	$ 4,689.02	[$3,259.02+1,430]/[143-55]=$23.68
January 16	-5	$    26.00	$   -130.00				193	$      23.62	$ 4,559.02	[$4,689.02-130]]/[198-5]]=$23.62
January 20				93	$      23.62	$ 2,196.83	100	$      23.62	$ 2,362.18	[$4,559.02-2,196.83]/[193-93]=$23.62
January 25	26	$    28.00	$     728.00				126	$      24.53	$ 3,090.18	[$3,090.18+728]/[100+26]=$24.53
Closing inventory							126		$ 3,090.18

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