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In: Accounting

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.

Date Activities Units Acquired at Cost Units Sold at Retail
Mar. 1 Beginning inventory 160 units @ $52.20 per unit
Mar. 5 Purchase 255 units @ $57.20 per unit
Mar. 9 Sales 320 units @ $87.20 per unit
Mar. 18 Purchase 115 units @ $62.20 per unit
Mar. 25 Purchase 210 units @ $64.20 per unit
Mar. 29 Sales 190 units @ $97.20 per unit
Totals 740 units 510 units

Complete this question by entering your answers in the tabs below.

  • Perpetual FIFO
  • Perpetual LIFO
  • Weighted Average
  • Specific Id

Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.)
Weighted Average Perpetual:
Goods Purchased Cost of Goods Sold Inventory Balance
Date # of units Cost per unit # of units sold Cost per unit Cost of Goods Sold # of units Cost per unit Inventory Balance
March 1 160 @ $52.20 = $8,352.00
March 5
Average
March 9
March 18
Average
March 25
March 29
Totals $0.00

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PLEASE FIND THE ATTCHED SOLUTION AND LIKE IF YOU SATISFIED WITH THE SAME.

ekkarill92 answered 1 year ago
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