At August 1 of the current year, there are 4,000 units at P15 each of merchandise inventory. During August, the following transactions occurred: August 2, purchased 5,000 units at P15.15 each; August 5, sold 4,000 units; August 8, sold 2,600 units; August 12, purchased 6,000 units at P15.20 each; August 16, sold 4,200 units; August 20, sold 3,800 units; August 24, purchased 6,000 units at P15.25 each; August 28, sold 2,200 units; and August 31, sold 3,600 units. Under the weighted average using periodic inventory system, what is the amount of cost of goods sold in August?
At August 1 of the current year, there are 4,000 units at P15 each of merchandise inventory. During August, the following transactions occurred: August 2, purchased 5,000 units at P15.15 each; August 5, sold 4,000 units; August 8, sold 2,600 units; August 12, purchased 6,000 units at P15.20 each; August 16, sold 4,200 units; August 20, sold 3,800 units; August 24, purchased 6,000 units at P15.25 each; August 28, sold 2,200 units; and August 31, sold 3,600 units. Under the weighted average using periodic inventory system, what is the amount of cost of goods sold in August?
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter6: Inventories
Section: Chapter Questions
Problem 1PB: FIFO perpetual inventory The beginning inventory at Dunne Co. and data on purchases and sales for a...
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At August 1 of the current year, there are 4,000 units at P15 each of merchandise inventory. During August, the following transactions occurred: August 2, purchased 5,000 units at P15.15 each; August 5, sold 4,000 units; August 8, sold 2,600 units; August 12, purchased 6,000 units at P15.20 each; August 16, sold 4,200 units; August 20, sold 3,800 units; August 24, purchased 6,000 units at P15.25 each; August 28, sold 2,200 units; and August 31, sold 3,600 units. Under the weighted average using periodic inventory system, what is the amount of cost of goods sold in August?
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