Weighted Average Cost Flow Method Under Perpetual Inventory System
The following units of a particular item were available for sale during the calendar year:
| Jan. 1 | Inventory | 15,000 | units at $60.00 |
| Mar. 18 | Sale | 12,000 | units |
| May 2 | Purchase | 27,000 | units at $62.00 |
| Aug. 9 | Sale | 22,500 | units |
| Oct. 20 | Purchase | 10,500 | units at $64.20 |
The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of merchandise sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5. Round unit cost to two decimal places, if necessary.
| Perpetual Inventory Account Weighted Average Cost Flow Method |
|||||||||
| Purchases | Cost of Merchandise Sold | Inventory | |||||||
| Date | Quantity | Unit Cost | Total Cost | Quantity | Unit Cost | Total Cost | Quantity | Unit Cost | Total Cost |
| Jan. 1 | fill in the blank 1 | $fill in the blank 2 | $fill in the blank 3 | ||||||
| Mar. 18 | fill in the blank 4 | $fill in the blank 5 | $fill in the blank 6 | fill in the blank 7 | fill in the blank 8 | fill in the blank 9 | |||
| May 2 | fill in the blank 10 | $fill in the blank 11 | $fill in the blank 12 | fill in the blank 13 | fill in the blank 14 | fill in the blank 15 | |||
| Aug. 9 | fill in the blank 16 | fill in the blank 17 | fill in the blank 18 | fill in the blank 19 | fill in the blank 20 | fill in the blank 21 | |||
| Oct. 20 | fill in the blank 22 | fill in the blank 23 | fill in the blank 24 | fill in the blank 25 | fill in the blank 26 | fill in the blank 27 | |||
| Dec. 31 | Balances | $fill in the blank 28 | fill in the blank 29 | $fill in the blank 30 | $fill in the blank 31 |
Weighted Average Cost Flow Method Under Perpetual Inventory System
The following units of a particular item were available for sale during the calendar year:
| Jan. 1 | Inventory | 4,000 units at $20 |
| Apr. 19 | Sale | 2,500 units |
| June 30 | Purchase | 6,000 units at $24 |
| Sept. 2 | Sale | 4,500 units |
| Nov. 15 | Purchase | 1,000 units at $25 |
The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of merchandise sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5. Round unit cost to two decimal places, if necessary.
Weighted Average Cost Flow Method Under Perpetual Inventory System
The following units of a particular item were available for sale during the calendar year:
| Jan. 1 | Inventory | 30,000 | units at $30.00 |
| Mar. 18 | Sale | 24,000 | units |
| May 2 | Purchase | 54,000 | units at $31.00 |
| Aug. 9 | Sale | 45,000 | units |
| Oct. 20 | Purchase | 21,000 | units at $32.10 |
The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of merchandise sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5. Round unit cost to two decimal places, if necessary.
| Schedule of Cost of Merchandise Sold Weighted Average Cost Flow Method |
|||||||||
|---|---|---|---|---|---|---|---|---|---|
| Purchases | Cost of Merchandise Sold | Inventory | |||||||
| Date | Quantity | Unit Cost | Total Cost | Quantity | Unit Cost | Total Cost | Quantity | Unit Cost | Total Cost |
| Jan. 1 | fill in the blank 1 | $fill in the blank 2 | $fill in the blank 3 | ||||||
| Mar. 18 | fill in the blank 4 | $fill in the blank 5 | $fill in the blank 6 | fill in the blank 7 | fill in the blank 8 | fill in the blank 9 | |||
| May 2 | fill in the blank 10 | $fill in the blank 11 | $fill in the blank 12 | fill in the blank 13 | fill in the blank 14 | fill in the blank 15 | |||
| Aug. 9 | fill in the blank 16 | fill in the blank 17 | fill in the blank 18 | fill in the blank 19 | fill in the blank 20 | fill in the blank 21 | |||
| Oct. 20 | fill in the blank 22 | fill in the blank 23 | fill in the blank 24 | fill in the blank 25 | fill in the blank 26 | fill in the blank 27 | |||
| Dec. 31 | Balances | $fill in the blank 28 | fill in the blank 29 | $fill in the blank 30 | $fill in the blank 31 |
Weighted Average Cost Flow Method Under Perpetual Inventory System
The following units of a particular item were available for sale during the calendar year:
| Jan. 1 | Inventory | 10,000 | units at $75.00 |
| Mar. 18 | Sale | 8,000 | units |
| May 2 | Purchase | 18,000 | units at $77.50 |
| Aug. 9 | Sale | 15,000 | units |
| Oct. 20 | Purchase | 7,000 | units at $80.25 |
The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5. Round unit cost to two decimal places, if necessary.
Weighted Average Cost Flow Method Under Perpetual Inventory System
The following units of a particular item were available for sale during the calendar year:
| Jan. 1 | Inventory | 4,000 units at $20 |
| Apr. 19 | Sale | 2,500 units |
| June 30 | Purchase | 6,000 units at $24 |
| Sept. 2 | Sale | 4,500 units |
| Nov. 15 | Purchase | 1,000 units at $25 |
The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of merchandise sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5. Round unit cost to two decimal places, if necessary.
| Schedule of Cost of Merchandise Sold Weighted Average Cost Flow Method |
|||||||||
|---|---|---|---|---|---|---|---|---|---|
| Purchases | Cost of Merchandise Sold | Inventory | |||||||
| Date | Quantity | Unit Cost | Total Cost | Quantity | Unit Cost | Total Cost | Quantity | Unit Cost | Total Cost |
| Jan. 1 | fill in the blank 1 | $fill in the blank 2 | $fill in the blank 3 | ||||||
| Apr. 19 | fill in the blank 4 | $fill in the blank 5 | $fill in the blank 6 | fill in the blank 7 | fill in the blank 8 | fill in the blank 9 | |||
| June 30 | fill in the blank 10 | $fill in the blank 11 | $fill in the blank 12 | fill in the blank 13 | fill in the blank 14 | fill in the blank 15 | |||
| Sept. 2 | fill in the blank 16 | fill in the blank 17 | fill in the blank 18 | fill in the blank 19 | fill in the blank 20 | fill in the blank 21 | |||
| Nov. 15 | fill in the blank 22 | fill in the blank 23 | fill in the blank 24 | fill in the blank 25 | fill in the blank 26 | fill in the blank 27 | |||
| Dec. 31 | Balances | $fill in the blank 28 | fill in the blank 29 | $fill in the blank 30 | $fill in the blank 31 |
Weighted Average Cost Flow Method Under Perpetual Inventory System
The following units of a particular item were available for sale during the calendar year:
| Jan. 1 | Inventory | 15,000 | units at $60.00 |
| Mar. 18 | Sale | 12,000 | units |
| May 2 | Purchase | 27,000 | units at $62.00 |
| Aug. 9 | Sale | 22,500 | units |
| Oct. 20 | Purchase | 10,500 | units at $64.20 |
The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of merchandise sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5. Round unit cost to two decimal places, if necessary.
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