Ralwins Company had the following balances and transactions during? 2018, from J
ID: 2508350 • Letter: R
Question
Ralwins Company had the following balances and transactions during? 2018, from January 1 to December? 31:
Beginning Merchandise Inventory
100 units at $84
March 10
Sold 60 units
June 10
Purchased 300 units at $87
October 30
Sold 160 units
What would be reported for ending Merchandise Inventory on the balance sheet at December? 31, 2018 if the perpetual inventory system and the
weightedminus?average
inventory costing method are? used? (Round unit costs to two decimal places and total costs to nearest?dollar.)
A. $3,360
B. $8,400
C. $11,760
D. $15,597
Beginning Merchandise Inventory
100 units at $84
March 10
Sold 60 units
June 10
Purchased 300 units at $87
October 30
Sold 160 units
Explanation / Answer
WEIGHTED AVERAGE METHOD
No
Qty Purchased
Unit Cost
Total Cost
Qty Sold
Unit cost
Total cost
Inv.Qty
Unit Cost
Total cost
Opening
100
84
8400
Mar 10
60
84
5040
40
84
3360
June 10
300
87
26100
40
84
3360
300
87
26100
Oct 10
160
86.65
13864
180
86.65
15597
180
86.65
15597
Ending Inventory Balance = $,15,597
No
Qty Purchased
Unit Cost
Total Cost
Qty Sold
Unit cost
Total cost
Inv.Qty
Unit Cost
Total cost
Opening
100
84
8400
Mar 10
60
84
5040
40
84
3360
June 10
300
87
26100
40
84
3360
300
87
26100
Oct 10
160
86.65
13864
180
86.65
15597
180
86.65
15597
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