You have the following information for Metlock, Inc. for the month ended October 31, 2022. Metlock uses a periodic method for inventory. Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory 65 $22 Oct. 9 Purchase 140 24 Oct. 11 Sale 100 40 Oct. 17 Purchase 100 25 Oct. 22 Sale 65 45 Oct. 25 Purchase 75 27 Oct. 29 Sale 110 45 (a1) Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.)

You have the following information for Metlock, Inc. for the month ended October 31, 2022. Metlock uses a periodic method for inventory. Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory 65 $22 Oct. 9 Purchase 140 24 Oct. 11 Sale 100 40 Oct. 17 Purchase 100 25 Oct. 22 Sale 65 45 Oct. 25 Purchase 75 27 Oct. 29 Sale 110 45 (a1) Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.)

Name: You have the following information for Metlock, Inc. for the month en
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Description: You have the following information for Metlock, Inc. for the month ended October 31, 2022. Metlock uses a periodic method forinventory.DateDescriptionUnitsUnit Cost or Selling PriceOct. 1Beginning inventory65$22Oct. 9Purchase14024Oct. 11Sale10040Oct

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 6MCQ: Refer to the information for Morgan Inc. above. If Morgan uses a perpetual inventory system, what is...

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