FIFO Calculator Perpetual Inventory Using Weighted Average B

FIFO Calculator Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: 300 units at $8 175 units 375 units at $10 280 units Oct. 1 Inventory 13 Sale 22 Purchase 29 Sale Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places per unit b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of the merchandise sold on October 29. Round your average unit cost to two decimal places c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your \"average unit cost to two decimal places. Next All work saved

Solution

a) Solution: $9.50

Working:

Units Unit cost Amount

125 $8 1,000

375 $10 3,750

500 4,750

= 4750 / 500 = 9.50

b) Solution: $2,660

Working: 280 units * $9.50

c) Solution: $2,090

Working: 220 units * $9.50