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Question

course.com/platform/mod/quiz/attempt,php2attempt 1679484&page; 37 MarketplacWindows Mi diaWindows D Raisingcash stiBtou 100 MistRaad Book AFC- Damento. Units Unit Cost Date Mar. 1 Purchased inventory 100e Mar. 3 Sold inventory Mar. 15 Purchased inventory 100 $28 Mar. 20 Sold Inventory Total Cost $25 $2,500 60 40 Assume the perpetual Inventory system is used. Use the welghted-average inventory costing method to calculate the companys cost of goods sold and ending Inventory as of March 31. Round weighted-average cost per unit to two decimal places. Use rounded answer for subsequent calculations. Round all other answers to the nearest dollar. March 3 Cost of goods sold March 20 Weighted-average cost per unit s Cost of goods sold March 31 Total cost of goods sold Ending inventory

Explanation / Answer

Weighted Average Cost ( Perpectual inventory) Date Particulars Quantity Rate $ Total $ Mar-01 Purchased Inventory 100 25              2,500 Mar-03 Sold inventory ( Cost of goods sold) -60 25           (1,500) Mar-15 Purchased Inventory 100 28              2,800 Mar-20 Sold inventory ( Cost of goods sold) -40         27.14           (1,086) Mar-31 Ending inventory 100         27.14              2,714

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