A company had the following purchases during its first year of operations: Purchases Sales 20 units at $7 January April May 30 units at $8 15 units at $14 The company uses the weighted-average method to determine the cost of its inventory. a. What is the weighted average cost per unit in May (round to one decimal place if necessary)? b. What is the cost of goods sold in May? c. What is the cost of ending inventory in May?

A company had the following purchases during its first year of operations: Purchases Sales 20 units at $7 January April May 30 units at $8 15 units at $14 The company uses the weighted-average method to determine the cost of its inventory. a. What is the weighted average cost per unit in May (round to one decimal place if necessary)? b. What is the cost of goods sold in May? c. What is the cost of ending inventory in May?

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 4PEA: Beginning inventory, purchases, and sales for 30xT are as follows: Assuming a perpetual inventory...

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