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Question - Perpetual Inventory Using Weighted Average - Beginning inventory, purchases, and sales for WCS12 are as follows:
Oct. 1 Inventory 350 units at $15
Oct. 13 Sale 150 units
Oct. 22 Purchase 300 units at $16
Oct. 29 Sale 200 units
Required -
a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase.
b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29.
c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31.
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