Cost/ Selling Date Event Quantity Price Jan 1 beginning inventory 19,900 $42.85 Jan 5 sale 5,840 73.00 Feb 15 purchase 34,800 40.25 Mar 10 purchase 10,200 49.00 May 20 sale 42,100 73.00 Aug 22 purchase 15,100 44.80 Sep 12 sale 20,200 73.00 Nov 24 purchase 9,000 47.00 Dec 5 sale 16,200 73.00 Calculate the ending inventory balance for Wildhorse Ltd., assuming the company uses a perpetual inventory system and the movin average cost formula. Also calculate the per-unit cost of the last item sold. (Round unit costs to 2 decimal places, e.g. 52.75 and ending inventory to O decimal places, e.g. 5,275.) Ending inventory Unit cost of the last item sold $
Cost/ Selling Date Event Quantity Price Jan 1 beginning inventory 19,900 $42.85 Jan 5 sale 5,840 73.00 Feb 15 purchase 34,800 40.25 Mar 10 purchase 10,200 49.00 May 20 sale 42,100 73.00 Aug 22 purchase 15,100 44.80 Sep 12 sale 20,200 73.00 Nov 24 purchase 9,000 47.00 Dec 5 sale 16,200 73.00 Calculate the ending inventory balance for Wildhorse Ltd., assuming the company uses a perpetual inventory system and the movin average cost formula. Also calculate the per-unit cost of the last item sold. (Round unit costs to 2 decimal places, e.g. 52.75 and ending inventory to O decimal places, e.g. 5,275.) Ending inventory Unit cost of the last item sold $
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter6: Inventories
Section: Chapter Questions
Problem 4BE: Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory...
Related questions
Topic Video
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning