Using the information given below for a company that uses a perpetual inventory system, calculate the ending inventory using weighted average. ?UnitsUnit CostBeginning inventory100$10Jan. 5 purchased4012Jan. 10 sold60-Jan. 15 purchased7013Jan. 25 sold50-
What will be an ideal response?
| ? | Purchases | Cost of goods sold | Balance | ||||||
| Date | Units | Unit cost | Total | Units | Unit cost | Total | Units | Unit cost | Total |
| 1/1 | ? | ? | ? | ? | ? | ? | 100 | $10.00 | $1,000 |
| 1/5 | 40 | $12 | $480 | ? | ? | ? | 140 | $10.57* | $1,480 |
| 1/10 | ? | ? | ? | 60 | $10.57 | $634 | 80 | $10.57 | $846 |
| 1/15 | 70 | $13 | $910 | ? | ? | ? | 150 | $11.71** | $1,756 |
| 1/25 | ? | ? | ? | 50 | $11.71 | $585 | 100 | $11.71 | $1,171 |
**$1,756/150 units = $11.71/unit
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