Beginning inventory, purchases, and sales for Meta-B1 are as follows: 100 units at $400 July 1 Inventory Sale 70 units 12 Purchase 120 units at $450 23 110 units Sale 26 Assuming a perpetual inventory system and using the weighted average method, deter- mine (a) the weighted average unit cost after the July 23 purchase, (b) the cost of the merchandise sold on July 26, and (c) the inventory on July 31.

Beginning inventory, purchases, and sales for Meta-B1 are as follows: 100 units at $400 July 1 Inventory Sale 70 units 12 Purchase 120 units at $450 23 110 units Sale 26 Assuming a perpetual inventory system and using the weighted average method, deter- mine (a) the weighted average unit cost after the July 23 purchase, (b) the cost of the merchandise sold on July 26, and (c) the inventory on July 31.

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 4PEA: Beginning inventory, purchases, and sales for Meta-B1 are as follows: Assuming a perpetual inventory...

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