Question

Problem 6-9A (Part Level Submission) Sweet Acacia Industries began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Purchases Date Units Unit Cost Sales Units July 1 8 $71 July 6 6 July 11 3 $76 July 14 3 July 21 5 $82 July 27 3

(a1) Your answer is partially correct. Try again. Calculate average cost for each unit. (For calculation and answers purpose round unit costs to 2 decimal places, e.g. 15.25.) July 1 $enter a dollar amount July 6 $enter a dollar amount July 11 $enter a dollar amount July 14 $enter a dollar amount July 21 $enter a dollar amount July 27 $enter a dollar amount Click if you would like to Show Work for this question: Open Show Work

Answer 1

Sweet Acacia Industries
		Weighted Average Perpetual Inventory Method		(A)	(B)/(A)	(B)
	Purchases		Cost of goods sold			Inventory on hand
Quantity	Unit cost	Total	Quantity	Unit cost	Total	Quantity	Unit cost	Total
8	$         71.00	$        568.00				8	$    71.00	$            568.00
			6	$                                71.00	$            426.00	2	$    71.00	$            142.00	($142/2)
3	$         76.00	$        228.00				5	$    74.00	$            370.00	($370/5)
			3	$                                74.00	$            222.00	2	$    74.00	$            148.00	($148/2)
5	$         82.00	$        410.00				7	$    79.71	$            558.00	($558/7)
			3	$                                79.71	$            239.14	4	$    79.71	$            318.86	($318.86/4)
16			12		$            461.14	4		$            318.86