You have the following information for Windsor Inc for the m

You have the following information for Windsor, Inc. for the month ended October 31, 2017. Windsor, Inc. uses a periodic method for inventory Description Units 56 122 90 108 Unit Cost or Selling Price Date Oct. 1 Beginning inventory Oct. 9 Purchase Oct. 11 Sale Oct. 17 Purc Oct. 22 Sale Oct. 25 Purchase Oct. 29 Sale $23 25 hase 26 39 28 39 67 113 (al) Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average cost per unit

Solution

Solution (a1):

Calculation of weighted average cost under periodic method of inventory

Date

Description

Units

Unit Cost ($)

Total Cost ($)

Oct. 1

Beginning inventory

56

23

1,288

Oct. 9

Purchase

122

25

3,050

Oct. 17

Purchase

108

26

2,808

Oct. 25

Purchase

67

28

1,876

TOTAL

353

9,022

Weighted average cost per unit

= Total cost of inventory available for sale / Total units available for sale

= $ 9,022 / 353

= $ 25.558 (Answer)

Date	Description	Units	Unit Cost ($)	Total Cost ($)
Oct. 1	Beginning inventory	56	23	1,288
Oct. 9	Purchase	122	25	3,050
Oct. 17	Purchase	108	26	2,808
Oct. 25	Purchase	67	28	1,876
TOTAL		353		9,022