Question 4 Company M uses the perpetual inventory system and valuates inventory using the weighted average method. > Calculate the ending inventory for March, assuming that the goods were sold for $10/unit. > Record journal entry for purchase on March 26 > Record journal entry for sale on March 28 Explanation Beginning Inventory Sale Unit Cost 2.00 Date Units 50 1-Mar 5-Mar 10-Mar 15-Mar 22-Mar 20 Purchase Sale Purchase Purchase Sale 30 2.50 40 50 3.00 26-Mar 3.25 20 60 24 28-Mar

Question 4 Company M uses the perpetual inventory system and valuates inventory using the weighted average method. > Calculate the ending inventory for March, assuming that the goods were sold for $10/unit. > Record journal entry for purchase on March 26 > Record journal entry for sale on March 28 Explanation Beginning Inventory Sale Unit Cost 2.00 Date Units 50 1-Mar 5-Mar 10-Mar 15-Mar 22-Mar 20 Purchase Sale Purchase Purchase Sale 30 2.50 40 50 3.00 26-Mar 3.25 20 60 24 28-Mar

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Description: Question 4Company M uses the perpetual inventory system and valuates inventory using theweighted average method.Calculate the ending inventory for March, assuming that the goods were sold for$10/unit.> Record journal entry for purchase on March 26Re

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 64E: ( Appendix 6B) Inventory Costing Methods: Periodic System Harrington Company had the following data...

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